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Financial Integration and Risk-Adjusted Growth Opportunities /

This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countries' risk-adjusted growth opportunities, and identifies some of the channels throug...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: De Nicoló, Gianni (Autor), Ivaschenko, Iryna V. (Autor)
Autor Corporativo: International Monetary Fund
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2008.
©2008
Colección:IMF working paper ; WP/08/126.
Temas:
Acceso en línea:Texto completo

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100 1 |a De Nicoló, Gianni,  |e author. 
245 1 0 |a Financial Integration and Risk-Adjusted Growth Opportunities /  |c prepared by Gianni de Nicolò and Iryna Ivaschenko. 
260 |a Washington, D.C. :  |b International Monetary Fund,  |c 2008. 
264 4 |c ©2008 
300 |a 1 online resource (24 pages) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper ;  |v WP/08/126 
500 |a Available in PDF, ePUB, and Mobi formats on the Internet. 
520 |a This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countries' risk-adjusted growth opportunities, and identifies some of the channels through which financial integration may foster growth. Three main results obtain. First, financial integration has progressed significantly worldwide, particularly in emerging markets, and regional integration has advanced at the fastest pace in Europe. Second, a country's speed of integration predicts future country's risk-adjusted growth opportunities, while improved risk-adjusted growth opportunities predict future advances in integration, indicating that the countries whose integration has been faster may have benefited most from a virtuous dynamics in which financial integration and improved real prospects are mutually reinforcing. Third, financial integration predicts globalization but the reverse does not necessarily hold, while advances in financial integration predict advances in financial development and improvements in the liquidity of equity markets. 
505 0 |a I. INTRODUCTION; II. FINANCIAL INTEGRATION AS CONVERGENCE IN EQUITY PREMIA; III. RISK- ADJUSTED GROWTH OPPORTUNITIES AND FINANCIAL INTEGRATION; IV. GLOBALIZATION, FINANCIAL DEVELOPMENT AND LIQUIDITY; V. CONCLUSIONS; References. 
504 |a Includes bibliographical references. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a International economic integration. 
650 0 |a Globalization. 
650 0 |a Liquidity (Economics) 
650 6 |a Intégration économique internationale. 
650 6 |a Mondialisation. 
650 6 |a Liquidité (Économie politique) 
650 7 |a globalism.  |2 aat 
650 7 |a Globalization  |2 fast 
650 7 |a International economic integration  |2 fast 
650 7 |a Liquidity (Economics)  |2 fast 
700 1 |a Ivaschenko, Iryna V.,  |e author. 
710 2 |a International Monetary Fund. 
730 0 |a IMF eLibrary. 
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