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Three main features characterize the international financial integration of China and India. First, while only having a small global share of privately-held external assets and liabilities (with the exception of China's FDI liabilities), these countries are large holders of official reserves....
Persistent link: https://www.econbiz.de/10012733024
In this paper, we investigate the degree of real economic interdependence between emerging Asia and major industrial countries to shed light on the heated debate over the "decoupling" of emerging Asia. We first document the evolution of macroeconomic interdependence for emerging Asian economies...
Persistent link: https://www.econbiz.de/10011283453
This paper investigates the potential diversification opportunities in fifteen Asia Pacific markets from 1997 until 2010 from the perspective of a local investor. By setting up two benefit measurement, I find that under some assumptions regional diversification is a better choice than global...
Persistent link: https://www.econbiz.de/10013117278
The issue of decoupling is controversial. On the back of Asia's sustained high growth, the hypothesis that the region's business cycles would become increasingly independent of the global trend gained considerable attention. Asia was nonetheless hit hard by the global financial crisis and...
Persistent link: https://www.econbiz.de/10011581854
reflects Japan's preference toward debt securities. Other Asia and Pacific economies have invested more heavily in foreign … toward the PRC, Japan, ROK, and other ASEAN economies. Albeit from the low level, the intra-ASEAN integration has been … noticeable. Fourth, Japan with largest abundant domestic capital has remained predominantly exposed to the United States and …
Persistent link: https://www.econbiz.de/10011843951
This study attempts to investigate the evolution of dynamic linkages and volatility spillover between the five countries of the Association of Southeast Asian Nations (ASEAN-5) stock markets and China's economic activities. By using the movements and structural breaks of the time-varying...
Persistent link: https://www.econbiz.de/10011515815
We examine the real and financial integration of East Asian economies, comparing the degree of real versus financial integration, the degree of global versus regional integration, and the extent of integration before versus after the 1997/98 financial crisis in East Asian economies. We analyze...
Persistent link: https://www.econbiz.de/10011282132
This paper shows that bank linkages have a positive effect on international trade. A global banking network (GBN) is constructed at the bank level, using individual syndicated loan data from Loan Analytics for 1990-2007. Network distance between bank pairs is computed and aggregated to country...
Persistent link: https://www.econbiz.de/10013071718
China's infrastructure-based Belt and Road Initiative (BRI) is challenging the US-led Western International Economic Governance Order (hereafter the Western order) that has been in place since the end of World War II, reflecting a global shift in power and influence from the United States to...
Persistent link: https://www.econbiz.de/10012928232
In this paper we present a new method for estimating market integration under a commodity money system such as that which existed in Europe until the demise of the gold standard. The approach is based on the analysis of deviations between exchange rates and parity, which under conditions of a...
Persistent link: https://www.econbiz.de/10009303501