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Financial integration and international risk spillovers

Dongwon Lee

Economics Letters, 2023, vol. 225, issue C

Abstract: Using static panel regression and dynamic local projection methods, we find that financial integration magnifies the transmission of global financial shocks to emerging market economies with fixed exchange rates, validating the insulation benefits of floating regimes and market segmentation.

Keywords: Exchange rate regimes; Financial integration; Global financial shocks; Open-economy policy trilemma; Risk spillovers (search for similar items in EconPapers)
JEL-codes: F31 F36 F65 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:225:y:2023:i:c:s0165176523000745

DOI: 10.1016/j.econlet.2023.111049

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