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The Real effects of financial integration / Jean Imbs (2004)

Públic ISBD Títol : The Real effects of financial integration Tipus de document : text imprès Autors : Jean Imbs, Autor Editorial : London : Centre for Economic Policy Research Data de publicació : 2004 Col·lecció : Discussion paper series núm. 4335 Nombre de pàgines : 48 p. ll. : taules Dimensions : 21 cm Nota general : Inclou bibliografia Idioma : Anglès (eng) Matèries : Cicles econòmics Classificació : 034 Desenvolupament de l'economia Resum : Fluctuations in GDP are more synchronized internationally than fluctuations in consumption, and they remain so even between financially-integrated economies, where the ranking should in theory be the reverse. This Paper shows this happens because correlations in GDP fluctuations rise with financial integration. Finance serves to increase international correlations in both consumption and GDP fluctuations, which explains the persistent gap between the two in the data. The positive association between financial integration and GDP correlation constitutes a puzzle, as theory suggests a negative relation if anything. Nevertheless, it prevails in the data even after the effects of finance on trade and specialization are accounted for. Permalink : https://bibliotecatriasfargas.cat/pmb/opac_css/index.php?lvl=notice_display&id=1 The Real effects of financial integration [text imprès] / Jean Imbs, Autor . - London : Centre for Economic Policy Research, 2004 . - 48 p. : taules ; 21 cm. - (Discussion paper series; 4335) . Inclou bibliografia Idioma : Anglès (eng) Matèries : Cicles econòmics Classificació : 034 Desenvolupament de l'economia Resum : Fluctuations in GDP are more synchronized internationally than fluctuations in consumption, and they remain so even between financially-integrated economies, where the ranking should in theory be the reverse. This Paper shows this happens because correlations in GDP fluctuations rise with financial integration. Finance serves to increase international correlations in both consumption and GDP fluctuations, which explains the persistent gap between the two in the data. The positive association between financial integration and GDP correlation constitutes a puzzle, as theory suggests a negative relation if anything. Nevertheless, it prevails in the data even after the effects of finance on trade and specialization are accounted for. Permalink : https://bibliotecatriasfargas.cat/pmb/opac_css/index.php?lvl=notice_display&id=1

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