학술논문
Financial Integration and Economic Growth: Should Asia Emulate Europe?
이용수 6
- 영문명
- 발행기관
- 세종대학교 경제통합연구소
- 저자명
- Sonia Kumari Selvarajan Rossazana Ab-Rahim
- 간행물 정보
- 『Journal of Economic Integration』제35권 제1호, 191~213쪽, 전체 23쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2020.03.31
5,560원
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국문 초록
영문 초록
The Asian financial crisis of 1997~1998 was the catalyst for the movement toward regional cooperation between Asian countries, having triggered the common interests and vulnerabilities among the affected nations. As a result, policymakers have resorted to financial integration to unleash their potentials.
Nevertheless, this approach is still in its infancy, largely underpinned by the heterogeneity in institutional and structural characteristics of the financial systems between countries. The authorities are cautious, as there is a trade-off between liquidity of capital markets and financial/economic stability. Considering these scenarios, the present study attempts to examine the dynamic relationship between financial integration and growth in Asian regions. Specifically, this study aims to investigate the financial-growth nexus pre-crisis (1980~1995) and post-crisis (1998~2015) as well as throughout the study period (1980~2015). The results of this study show a significant financial-growth relationship pre-crisis, but the impact wanes in the post-crisis and overall time periods. The results indicate to policymakers the heterogeneous characteristics of each country and to what extent financial integration should be emulated from their European counterparts.
목차
I. Introduction
II. Literature Review
III. Research Methodology
IV. Results and Discussion
V. Conclusion
해당간행물 수록 논문
- Stability of Money Demand Function in the SAARC Region: A Panel Co-Integration Approach
- Economic Integration in Southeast Asia: The Case of the ASEAN Power Grid
- Energy Trade and Economic Integration between the Commonwealth Independent States and China
- South Asia’s Economic Integration with East Asia: An Exploratory Analysis with a Focus on India
- Is Trade Integration Leading to Regionalization? Evidence from Cross-Country Network Analysis
- Can Environmental Regulations Drive International Trade? Lessons for Asia from the European Union’s Performance of Buildings Directive
- China’s Outward Foreign Direct Investment in the Greater Mekong Subregion
- Financial Integration and Economic Growth: Should Asia Emulate Europe?
- Regional Economic Integration in Asia: Challenges and Recommended Policies
- Spillover Effects of Trade Shocks in the Central and Eastern European and Baltic Countries
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