This paper assesses financial integration in Asia in terms of risk-sharing benefit versus financial-contagion cost. We … discount factors. Risk sharing is low in Asia, and varies across time and countries, whereas contagion risks are more … differentials. Asia, therefore, can potentially enhance risk sharing without raising contagion risk. …

of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this … sample suggest that one factor holding back investment in foreign bonds in East Asia may be limited geographical …

The paper compares trends in financial integration within Asia with those in industrialized countries and other …

used as a leading indicator. Based on the FCI, financial conditions in Asia tightened substantially earlier in the global … crisis, reflecting losses in the stock markets and tighter credit conditions. In early 2010, financial conditions in Asia …

with the yen carry-trade; and that China is key to understanding Asia's demographic impact on the world. It also finds that … Asia offers the greatest arbitrage opportunities worldwide during the demographic transition and has the greatest potential …