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

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.
Publication date: December 2006
ISBN: 9781451865271
$18.00
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Topics covered in this book

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Finance , Globalization , Risk-sharing , international diversification , financial integration , foreign assets , recession , international economic order , Financial Aspects of Economic Integration

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