This study is one in three, resulting from an international research project on the development of manufacturing in ASEAN and the EC, and the potential for further ASEAN-EC Cooperation. The trends and their impact on structural change are analysed in the context of both the economies of ASEAN...

This paper addresses the macroeconomic impact of international financial integration. I first provide empirical evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with poor credit markets. Second I present a model in which...