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 resul...

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Bibliographische Detailangaben
1. Verfasser: Mercereau, Benoit
Format: Zeitschrift
Sprache:English
Veröffentlicht: Washington, D.C. : International Monetary Fund, 2006.
Schriftenreihe:IMF Working Papers; Working Paper ; No. 2006/267
Online Zugang:Full text available on IMF
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245 1 0 |a Financial Integration in Asia :   |b Estimating the Risk-Sharing Gains for Australia and Other Nations /  |c Benoit Mercereau. 
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520 3 |a 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. 
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