Cover IMF Working Papers
Financial Integration in Asia: Estimating the Risk-Sharing Gains for Australia and Other Nations
Author:
Benoît Mercereaunull

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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 267
Language:
English
Publication Date:
01 Dec 2006
DOI:
https://doi.org/10.5089/9781451865271.001
ISBN:
9781451865271
ISSN:
1018-5941
Pages:
20
Keywords:
WP; gain; welfare gain; investor
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2006: Issue 267