Financial Integration, Financial Deepness and Global Imbalance

Enrique Mendoza

No 746, 2007 Meeting Papers from Society for Economic Dynamics

Abstract: Three empirical observations motivate our analysis: (1) financial deepness varies widely even amongst industrial countries, with the United States ranking at the top; (2) the secular decline in the U.S. net foreign asset position started in the early 1980s, together with a gradual process of international capital markets liberalization; (3) net exports and current account balances are negatively correlated with indicators of financial development.

Date: 2007
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Working Paper: Financial Integration, Financial Deepness and Global Imbalances (2007)
Working Paper: Financial Integration, Financial Deepness and Global Imbalances (2007)
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