Rungcharoenkitkul, Phurichai - International Monetary Fund (IMF) - 2011
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. …