Financial Integration and Rebalancing in Asia

32 Pages Posted: 8 Nov 2011

See all articles by Runchana Pongsaparn

Runchana Pongsaparn

International Monetary Fund (IMF)

Olaf Unteroberdoerster

International Monetary Fund (IMF) - Asia and Pacific Department

Date Written: October 2011

Abstract

The paper shows that Asia’s degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.

Keywords: Asia, Economic integration, Capital inflows, Foreign investment, Exchange restrictions, Capital account liberalization, Economic growth

Suggested Citation

Pongsaparn, Runchana and Unteroberdoerster, Olaf, Financial Integration and Rebalancing in Asia (October 2011). IMF Working Paper No. 11/243, Available at SSRN: https://ssrn.com/abstract=1956390

Runchana Pongsaparn (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Olaf Unteroberdoerster

International Monetary Fund (IMF) - Asia and Pacific Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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