Converge or integrate? A note on Gourinchas and Jeanne: The elusive gains from international financial integration

Philippe Darreau () and Francois Pigalle ()
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Philippe Darreau: University of Limoges
Francois Pigalle: University of Limoges

Economics Bulletin, 2016, vol. 36, issue 2, 789-792

Abstract: Gourinchas and Jeanne (2006) explain that the gains from capital market integration are small because the natural convergence of economies would have "done the work" of integration if it had not occurred. We provide a simple illustration of this standard theoretical argument using the simplest Solow model in a small open economy.

Keywords: Capital flows; international financial integration; growth; Solow model. (search for similar items in EconPapers)
JEL-codes: E2 F2 (search for similar items in EconPapers)
Date: 2016-04-29
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Citations: View citations in EconPapers (1)

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