Financial integration in East Asia:
"This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economi...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Tokyo
IMES
2007
|
| Schriftenreihe: | Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan
2007,12 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of the euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than the euro area economies. These results suggest two policy implications: First, there is some room for improvement in welfare gains in those economies by means of further risk sharing. Second, holding all other conditions equal, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage."--Author's description. |
| Beschreibung: | 58 S. graph. Darst. |
Internformat
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| 100 | 1 | |a Fujiki, Hiroshi |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Financial integration in East Asia |c Hiroshi Fujiki and Akiko Terada-Hagiwara |
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| 490 | 1 | |a Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan |v 2007,12 | |
| 520 | 3 | |a "This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of the euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than the euro area economies. These results suggest two policy implications: First, there is some room for improvement in welfare gains in those economies by means of further risk sharing. Second, holding all other conditions equal, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage."--Author's description. | |
| 650 | 4 | |a Capital market |z East Asia | |
| 650 | 4 | |a Finance |z East Asia | |
| 650 | 4 | |a Financial crises |z East Asia | |
| 651 | 4 | |a Ostasien | |
| 700 | 1 | |a Terada Hagiwara, Akiko |e Verfasser |0 (DE-588)132768380 |4 aut | |
| 810 | 2 | |a Institute for Monetary and Economic Studies, Bank of Japan |t Discussion paper series |v 2007,12 |w (DE-604)BV010647223 |9 2007,12 | |
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| 912 | |a ebook | ||
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Datensatz im Suchindex
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| author | Fujiki, Hiroshi Terada Hagiwara, Akiko |
| author_GND | (DE-588)132768380 |
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| author_role | aut aut |
| author_sort | Fujiki, Hiroshi |
| author_variant | h f hf h a t ha hat |
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| bvnumber | BV023108061 |
| callnumber-first | H - Social Science |
| callnumber-label | HG187 |
| callnumber-raw | HG187.E37 |
| callnumber-search | HG187.E37 |
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| callnumber-subject | HG - Finance |
| classification_rvk | QB 910 |
| collection | ebook |
| ctrlnum | (OCoLC)173234043 (DE-599)BVBBV023108061 |
| dewey-full | 330.95 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
| dewey-raw | 330.95 |
| dewey-search | 330.95 |
| dewey-sort | 3330.95 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
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| geographic | Ostasien |
| geographic_facet | Ostasien |
| id | DE-604.BV023108061 |
| illustrated | Illustrated |
| index_date | 2024-07-02T19:47:18Z |
| indexdate | 2024-07-09T21:11:12Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016310705 |
| oclc_num | 173234043 |
| open_access_boolean | 1 |
| owner | DE-355 DE-BY-UBR DE-188 |
| owner_facet | DE-355 DE-BY-UBR DE-188 |
| physical | 58 S. graph. Darst. |
| psigel | ebook |
| publishDate | 2007 |
| publishDateSearch | 2007 |
| publishDateSort | 2007 |
| publisher | IMES |
| record_format | marc |
| series2 | Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan |
| spelling | Fujiki, Hiroshi Verfasser aut Financial integration in East Asia Hiroshi Fujiki and Akiko Terada-Hagiwara Tokyo IMES 2007 58 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Discussion paper series / Institute for Monetary and Economic Studies, Bank of Japan 2007,12 "This paper examines the degree of integration into world financial markets and the impacts on several key macroeconomic variables of selected East Asian economies, and draws policy implications. According to our analysis, the degrees of integration into world financial markets in those economies are increasing. Regarding the impacts of increasing integration into world financial markets on several macroeconomic variables, we find three results. First, casual two-way plots among macroeconomic variables do not support the theoretical prediction of reduction in relative consumption volatility. Second, the saving-investment correlation is higher than those of the euro area economies. Third, the degrees of smoothing of idiosyncratic shock by cross-holding of financial assets are lower than the euro area economies. These results suggest two policy implications: First, there is some room for improvement in welfare gains in those economies by means of further risk sharing. Second, holding all other conditions equal, the increasing integration into world financial markets alone is unlikely to provide a sound ground for a currency union in East Asia at this stage."--Author's description. Capital market East Asia Finance East Asia Financial crises East Asia Ostasien Terada Hagiwara, Akiko Verfasser (DE-588)132768380 aut Institute for Monetary and Economic Studies, Bank of Japan Discussion paper series 2007,12 (DE-604)BV010647223 2007,12 http://www.imes.boj.or.jp/english/publication/edps/2007/07-E-12.pdf Verlag kostenfrei Volltext |
| spellingShingle | Fujiki, Hiroshi Terada Hagiwara, Akiko Financial integration in East Asia Capital market East Asia Finance East Asia Financial crises East Asia |
| title | Financial integration in East Asia |
| title_auth | Financial integration in East Asia |
| title_exact_search | Financial integration in East Asia |
| title_exact_search_txtP | Financial integration in East Asia |
| title_full | Financial integration in East Asia Hiroshi Fujiki and Akiko Terada-Hagiwara |
| title_fullStr | Financial integration in East Asia Hiroshi Fujiki and Akiko Terada-Hagiwara |
| title_full_unstemmed | Financial integration in East Asia Hiroshi Fujiki and Akiko Terada-Hagiwara |
| title_short | Financial integration in East Asia |
| title_sort | financial integration in east asia |
| topic | Capital market East Asia Finance East Asia Financial crises East Asia |
| topic_facet | Capital market East Asia Finance East Asia Financial crises East Asia Ostasien |
| url | http://www.imes.boj.or.jp/english/publication/edps/2007/07-E-12.pdf |
| volume_link | (DE-604)BV010647223 |
| work_keys_str_mv | AT fujikihiroshi financialintegrationineastasia AT teradahagiwaraakiko financialintegrationineastasia |