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

Philippe Darreau () and François Pigalle ()
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Philippe Darreau: LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges
François Pigalle: LAPE - Laboratoire d'Analyse et de Prospective Economique - GIO - Gouvernance des Institutions et des Organisations - UNILIM - Université de Limoges

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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: International; ​financial; integration (search for similar items in EconPapers)
Date: 2016
Note: View the original document on HAL open archive server: https://unilim.hal.science/hal-01324727v1
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Citations: View citations in EconPapers (1)

Published in Economics Bulletin, 2016, 36 (2), pp.789-792

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01324727

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