This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countries' risk-adjusted growth opportunities, and identifies some of the channels through...

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...

We document external investment positions among European Union countries at the start of the financial crisis through the creation of a new database comprising bilateral external financial asset and liabilities, excluding reserve assets and derivatives. While there are some gaps in the data, the...

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...

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.