Financial integration and risk-adjusted growth opportunities / / Gianni De Nicolò and Iryna Ivaschenko

• Record Nr.: UNINA9910464014903321
• Autore: De Nicoló Gianni
• Pubbl/distr/stampa: [Washington, District of Columbia] : , : International Monetary Fund, , 2008; ©2008
• ISBN: 1-4623-9616-X; 1-4527-0771-5; 1-4518-6986-X; 1-282-84080-0; 9786612840807
• Descrizione fisica: 1 online resource (26 p.)
• Collana: IMF Working Papers; IMF working paper ; ; WP/08/126
• Altri autori (Persone): IvaschenkoIryna
• Disciplina: 337
• Soggetti: International economic integration; Globalization; Liquidity (Economics); Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Introduction; II. Financial Integration as Convergence in Equity Premia; III. Risk-Adjusted Growth Opportunities and Financial Integration; IV. Globalization, Financial Development and Liquidity; V. Conclusions; References; Tables; 1. Convergence of Cross-Country Variances of Equity Premia; 2. Financial Integration and Risk-Adjusted Growth Opportunities; 3. Financial Integration and Globalization; 4. Financial Integration and Financial Development; 5. Financial Integration and Equity Markets Liquidity; Figures; 1. Risk-Adjusted Growth Opportunities - Developed Europe; 2. Risk-Adjusted Growth Opportunities - Emerging Europe3. Risk-Adjusted Growth Opportunities - Americas; 4. Risk-Adjusted Growth Opportunities - Emerging Asia
• Sommario/riassunto: This paper documents the evolution of measures of financial integration for major advanced and emerging markets economies, assesses whether advances in integration have had a significant positive impact on countries' risk-adjusted growth opportunities, and identifies some of the channels through which financial integration may foster growth. Three main results obtain. First, financial integration has progressed significantly worldwide, particularly in emerging markets, and regional integration has advanced at the fastest pace in Europe. Second, a country's speed of integration predicts future