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...

We analyze how the pass-through from exchange rate to domestic wages depends on the degree of integration between domestic and foreign labor markets. Using data from 66 countries over the period 1981-2005, we find that the elasticity of domestic wages to real exchange rate is 0.1 after a year...

Intro -- Contents -- I. INTRODUCTION -- II. DATA NEEDS OF THE COMMON MARKET AND MONETARY UNION IN THE GCC STATES -- III. THE INSTITUTIONAL SETTING FOR PRODUCING STATISTICS IN GCC COUNTRIES -- IV. THE ROLE OF AFRISTAT -- V. THE ROLE OF EUROSTAT -- VI. KEY LESSONS FOR A FUTURE GULFSTAT -- VII....

Intro -- Contents -- I. GLOBALIZATION OF PRODUCTION AND FINANCIAL INTEGRATION IN ASIA -- II. ROLE OF INSTITUTIONS AND MARKETS TO FOSTER FINANCIAL INTEGRATION AND ECONOMIC STABILITY12 A. Introduction -- APPENDIX II. 1. KEY FINANCIAL MARKET INDICATORS -- APPENDIX II. 2. REGULATIONS ON CROSS-...

Intro -- Contents -- I. INTRODUCTION -- II. THE BASELINE MODEL -- III. EQUILIBRIUM -- IV. ECONOMIC INTEGRATION AND DIVERSIFICATION -- V. RIGID WAGES -- VI. CONCLUSION -- APPENDIX: THE MODEL -- REFERENCES.