Financial Integration and Rebalancing in Asia

Olaf Unteroberdoerster and Runchana Pongsaparn

No 2011/243, IMF Working Papers from International Monetary Fund

Abstract: The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.

Keywords: WP; GDP; Asia; Financial Integration; Financial Development; Rebalancing; Portfolio investment; savings-investment norm; FDI inflow; FDI flow; FDI outflow; Foreign direct investment; Financial sector development; Exchange rates; Asia and Pacific; Global; Eastern Europe (search for similar items in EconPapers)
Pages: 31
Date: 2011-10-01
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Citations: View citations in EconPapers (12)

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