Financial Integration in Asset and Liability Holdings in East Asia
Park, Donghyun; Shin, Kwanho | August 2015
Abstract
Findings from the paper generally support the conventional wisdom that East Asian countries are more
financially integrated with global financial centers than they are with each other. This is confirmed by
econometric analysis based on financial gravity equations. Results of additional econometric analysis indicate
that the diversification of liability holdings can mitigate financial instability due to global financial shocks.
This suggests that a possible indirect benefit of regional financial integration is reduced vulnerability to such
shocks.
Citation
Park, Donghyun; Shin, Kwanho. 2015. Financial Integration in Asset and Liability Holdings in East Asia. © Asian Development Bank. http://hdl.handle.net/11540/5109. License: CC BY 3.0 IGO.ISSN
2313-6537 (Print), 2313-6545 (e-ISSN)
Keywords
Financial Integration
Economic Development
Economic Infrastructure
Economic Policies
Regional Economic Development
Microfinance Programs
Public Finance
Financial Sector Regulation
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Citable URI
http://hdl.handle.net/11540/5109Metadata
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