Financial Integration in Asia : Estimating the Risk-Sharing Gains for Australia and Other Nations

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Price:  $18.00

Author/Editor: Benoît Mercereau
Release Date: © December, 2006
ISBN : 978-1-45186-527-1
Stock #: WPIEA2006267
Stock Status: On back-order

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Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The results suggest that these welfare gains are large, which argues in favor of a progressive capital account liberalization across the region.

More publications in this series: Working Papers

More publications by: Benoît Mercereau