trade and capital account openness. We also find that the endogenous selection of exchange rate regimes does not explain the …

This paper studies international financial integration analyzing firms from various countries raising capital, trading …

recent empirical patterns of international capital flows. International capital mobility affects output in each country … dominate the direct effects and international capital mobility raises output in the poor country and globally, although net … capital flows are in the direction of the rich country. Our model adds to the understanding of the benefits of international …

low development of Italian capital markets may explain these features of savings in Italy. In the second part of the paper … household saving. The results suggest that capital market imperfections are the likely source of the high Italian savings rate …

This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with …

This paper uses consumption patterns across countries to measure capital market integration. It argues that earlier … associated with incomplete integration across capital markets. Elsewhere, consumption is found to be excessively dependent on …