 International financial integration of East Asia and PacificTatiana Didier (), Ruth Llovet and Sergio Schmukler Journal of the Japanese and International Economies, 2017, vol. 44, issue C, 52-66 Abstract: This paper provides a comprehensive analysis of how economies in the East Asia and Pacific (EAP) region have been integrating financially with the rest of the world since the 1990′s, using bilateral data on portfolio investments, syndicated bank loans, mergers and acquisitions (M&As), and greenfield investments. Four main messages emerge from the analysis. First, the region is increasingly more connected with itself and with the rest of the world, even relative to GDP. Second, although economies in the North capture the bulk of the region's inward and outward investments, EAP's connectivity with the South has grown relatively faster. Third, EAP is relatively more connected through arm's length financing (portfolio investments and syndicated loans) with the more financially developed North, and through FDI (M&As and greenfield investments) with itself and the South. Fourth, more developed EAP economies have a larger role in EAP's arm's length investments than in the region's FDI. Keywords: Cross-border capital flows; Foreign direct investment; International financial integration; Portfolio investments; Syndicated loans; Trade flows (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jjieco:v:44:y:2017:i:c:p:52-66 DOI: 10.1016/j.jjie.2017.02.004 Access Statistics for this article Journal of the Japanese and International Economies is currently edited by Takeo Hoshi More articles in Journal of the Japanese and International Economies from Elsevier |
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