International financial integration of East Asia and Pacific
Ruth Llovet and
Sergio Schmukler ()
Journal of the Japanese and International Economies, 2017, vol. 44, issue C, 52-66
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)
JEL-codes: F14 F21 F23 G15 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
Working Paper: International Financial Integration of East Asia and Pacific (2017)
Working Paper: International financial integration of East Asia and Pacific (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jjieco:v:44:y:2017:i:c:p:52-66
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
Bibliographic data for series maintained by Dana Niculescu ().