alessandrini, sergio (2010): Financial integration in the four Basins: a quantitative comparison.
Download (131kB) | Preview
This paper presents some stylized features of the financial integration of the four basin regions (Baltic Sea, Black Sea, Caspian Sea and Mediterranean Sea regions) and discusses the developments, trends and features of the IIP in the regions. Chapter 3 identifies the gaps in them, distinguishing the EU e non-EU members and provides an overview of the asymmetries and the convergence as a result of the financial integration in the different markets. After the review the trends the final chapter points to areas where further efforts are needed for achieving greater regional integration.
|Item Type:||MPRA Paper|
|Original Title:||Financial integration in the four Basins: a quantitative comparison|
|Keywords:||Financial integration, FDI, Private capital flows, FTA|
|Subjects:||F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital Movements
F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration
|Depositing User:||Sergio Alessandrini|
|Date Deposited:||25. Oct 2010 00:36|
|Last Modified:||12. Mar 2015 06:57|
Calvo, G. (1998). “Capital flows and capital-market crises: the simple economics of sudden stops”. Journal of Applied Economics, 1, 35–54.
Chinn, M. D. and Ito, H., (2005). "What Matters for Financial Development? Capital Controls, Institutions, and Interactions", NBER Working Paper No. 11370.
Chinn, M. D. and Ito, H. (2008). "A New Measure of Financial Openness", Journal of Comparative Policy Analysis , 10, 3, 309-322.
Edison, H.J., Klein, M., Ricci L. A. and Slok T. (2004). “Capital Account Liberalization and Economic Performance”, IMF Staff Papers, 51, 2, 220-256.
Edwards, S. (2004). “Thirty years of current account imbalances, current account reversals, and sudden stops”, IMF Staff Papers, 51 (Special Issue), 1–49.
Eichengreen, B. (2002). “Capital Account Liberalization: What Do the Cross Country Studies Show Us?” World Bank Economic Review, 15, 3, 341-366.
European Commission (1996). “Capital Market Liberalization”, The Single Market Review Series, Subseries III - Dismantling of Barriers, Bruxelles, August.
European Commission (2004). Communication from the Commission, European Neighbourhood Policy, Strategy Paper, Bruxelles, Brussels, COM(2004) 373 final.
Kose, M. A., Prasad, E.S., Rogoff, K., Wei, S.J. (2009). “Financial Globalization: A Reappraisal”, IMF Staff Papers, 56, 1, 8-62.
Johnston, R. B. and Tamirisa, N. T. (1998). “Why do countries use capital controls?”, IMF Working Paper WP/98/181.
Lagoarde-Segot, T. and Lucey, B. M. (2008). “The Capital Markets of the Middle East and North African Region. Situation and Characteristics”, Emerging Markets Finance & Trade, 44, 5, 68–81.
Lane, P.R., and Milesi-Ferretti, G.M. (2001). “The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries", Journal of International Economics, 55, 263–94.
Lane, P.R., and Milesi-Ferretti, G.M. (2003). “International Financial Integration”, IMF Staff Papers, 50, Special Issue, 82–113.
Massad, C. (2000). “Capital Flows in Chile: Changes and Policies in the 1990’s”, in Financial Globalization and the Emerging Economies, J. A. Ocampo, S. Zamagni, R. Davis and C. Pietrobelli (ed.), United Nations, 219-233.
Miniane, J. (2004). “A new set of measures on capital account restrictions", IMF Staff Papers, 51, 2, 276–308.
MSCI (2010). MSCI Global Market Accessibility Review, June.
Muller-Jentsch, D. (2004). "Deeper Integration and Trade in Services in the Euro-Mediterranean Region: Southern Dimensions of The European Neighbourhood Policy", Washington, D.C., World Bank and European Commission.
Prasad, E.S., Rogoff, K., Wei, S.J., and Kose, M. A. (2003). "Effects of Financial Globalization on Developing Countries: Some Empirical Evidence", IMF Occasional Paper No. 220.
Quinn, D. (1997). “The Correlates of Change in International Financial Regulation”, American Political Science Review, 91, 3, 531-551.
Rodrik, D. (2006). “The social cost of foreign exchange reserves", International Economic Journal, Korean International Economic Association, 20, 3, 253-266.
Schmukler, S. L. (2004). “Financial Globalization: Gain and Pain for Developing Countries”, Federal Reserve Bank of Atlanta Economic Review, Second Quarter.
Stiglitz, J. E. (2004). “Capital-market Liberalization, Globalization, and the IMF”, Oxford Review of Economic Policy, 20, 1, 57-71.