International Financial Integration

Philip Lane and Gian Maria Milesi-Ferretti ()

Economic Papers from Trinity College Dublin, Economics Department

Abstract: In recent decades, foreign assets and liabilities in advanced countries have grown rapidly relative to GDP, with the increase in gross cross-holdings far exceeding the size of net positions. Moreover, the portfolio equity and FDI categories have grown in importance relative to international debt stocks. In this paper, we describe the broad trends in international financial integration for a sample of industrial countries, and seek to explain the cross-country and time-series variation in the size of international balance sheets. We also examine the behaviouur of the rates of return on foreign assets and liabilities, relating them to 'market' returns.

Date: 2003
New Economics Papers: this item is included in nep-ifn
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Citations: View citations in EconPapers (226)

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Related works:
Working Paper: International Financial Integration (2003)
Working Paper: International Financial Integration* (2003)
Working Paper: International Financial Integration (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:tcd:tcduee:20031

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