EconPapers    
Economics at your fingertips  
 

Do private capital markets insure regional risk? Evidence from the United States and Europe

Andrew Atkeson and Tamim Bayoumi

Open Economies Review, 1993, vol. 4, issue 3, 303-324

Abstract: A striking feature of international economic relations is the limited extent of intertemporal trade and risk-sharing among nations. This paper uses data on consumption, income, and production from regions of the United States to address the question of whether the limited participation of national economies in international capital markets is a fundamental aspect of economic relations among large geographic regions, or whether it is specifically an artifact of international economic relations. We conclude that capital flows among the regions of the United States are significantly larger than those across countries. However, such private markets still provide a relatively limited degree of insurance against regional fluctuations. Copyright Kluwer Academic Publishers 1993

Keywords: capital markets; regional fluctuations (search for similar items in EconPapers)
Date: 1993
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (87) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1007/BF01000047 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:kap:openec:v:4:y:1993:i:3:p:303-324

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/11079/PS2

Access Statistics for this article

Open Economies Review is currently edited by G.S. Tavlas

More articles in Open Economies Review from Springer
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2019-04-11
Handle: RePEc:kap:openec:v:4:y:1993:i:3:p:303-324