EconPapers    
Economics at your fingertips  
 

International financial integration of East Asia and Pacific

Tatiana 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)
JEL-codes: F14 F21 F23 G15 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0889158317300138
Full text for ScienceDirect subscribers only

Related works:
Working Paper: International Financial Integration of East Asia and Pacific (2017) Downloads
Working Paper: International financial integration of East Asia and Pacific (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

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

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 ().

 
Page updated 2019-07-22
Handle: RePEc:eee:jjieco:v:44:y:2017:i:c:p:52-66