The Elusive Gains from International Financial Integration

The Elusive Gains from International Financial Integration
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this type of convergence appear relatively limited for... READ MORE...

Publication date: May 2004
ISBN 9781451849622
$15.00

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