Financial Integration and Rebalancing in Asia

Financial Integration and Rebalancing in Asia
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Volume/Issue:
2011/243
Series:
IMF Working Papers
Author(s):
Olaf Unteroberdoerster, and Runchana Pongsaparn
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
October 2011
DOI:
http://dx.doi.org/10.5089/9781463922641.001
ISBN:
9781463922641
ISSN:
1018-5941
Page:
31
The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.
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