LEADER 06765oam 22013694 450 001 9910960887403321 005 20250426110719.0 010 $a9786612843532 010 $a9781462392094 010 $a1462392091 010 $a9781452726861 010 $a1452726868 010 $a9781451872866 010 $a1451872860 010 $a9781282843530 010 $a1282843532 035 $a(CKB)3170000000055294 035 $a(EBL)1608350 035 $a(SSID)ssj0000943045 035 $a(PQKBManifestationID)11967159 035 $a(PQKBTitleCode)TC0000943045 035 $a(PQKBWorkID)10974943 035 $a(PQKB)10407329 035 $a(OCoLC)712987742 035 $a(IMF)WPIEE2009139 035 $a(MiAaPQ)EBC1608350 035 $a(IMF)WPIEA2009139 035 $aWPIEA2009139 035 $a(EXLCZ)993170000000055294 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRegional Financial Integration in the Caribbean : $eEvidence From Financial and Macroeconomic Data /$fGoohoon Kwon, Raphael Espinoza 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (37 p.) 225 1 $aIMF Working Papers 300 $a"July 2009". 311 08$a9781451917154 311 08$a1451917155 320 $aIncludes bibliographic references. 327 $aContents; I. Introduction; II. Background; III. Stock Price Convergence; A. Data; B. AR results; C. Threshold Auto-Regression (TAR) estimator; IV. Current Account Convergence and Regional Trade Balance; A. Theory; B. Estimation framework; C. Global Financial Integration; D. Intra-regional trade and regional financial integration; V. Conclusion; References; Appendix A; Tables; 1. Balance of Payments; 2. UNCTAD FDI Inward Stock (In millions U.S. dollars, 2001; 3. UNCTAD FDI Outward Stock (In millions of U.S. dollars, 2001); 4. Regional Exports, as a Share of GDP 327 $a5. Interest Rates: Principal Component Analysis, 1980m1-2005m126. Interest Comovements; 7. Cross-Listed Stocks; 8. Cross-Market Premium; 9. (G) ARCH-AR Model; 10. (G) ARCH-TAR Model; 11. ? Coefficient from 1975-2005; 12. ? Coefficient from 1975-90; 13. ? Coefficient from 1991-2005; 14. Regional Financial Integration 1975-2005; 15. 1975-90 Estimates of Regional Financial Integration; 16. 1991-2005 Estimates of Regional Financial Integration; Figures; 1. Interest Rates in the CARICOM and Sigma-Convergence (3 month T-Bills); 2. Cross-Listed Stocks; 3. Convergence Speed vs. Foreign Liabilities 330 3 $aThis paper assesses the extent of regional financial integration in the Caribbean Community (CARICOM) by analyzing equity prices in the region and rigidity of external financing constraints. The results are presented in a cross-regional perspective. The Caribbean stock markets are not as well integrated as one would expect from the extent of cross-listing and importance of regional banking groups: price differentials of cross-listed stocks reach an average of 5 percent. Auto-Regressive models suggest that these price differentials are only slowly arbitraged away, with half-lives exceeding 7 worked days, even when looking only at large arbitrage opportunities (using a Threshold Auto-Regressive model). A speculative methodology using macroeconomic data seems to confirm these findings. A strong mean reversion of the current account (respectively regional trade imbalances) is interpreted, following Obstfeld and Taylor (2004), as a lack of ways to finance current account deficits, i.e. a lack of global (respectively regional) financial integration. The region appears to be much less integrated than the EU15 or the ASEAN+3 groups, although it fares well compared to other LDCs. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/139 606 $aFinance$zCaribbean Area 606 $aMacroeconomics 606 $aBalance of payments$2imf 606 $aCurrent Account Adjustment$2imf 606 $aCurrent account$2imf 606 $aEconomic integration$2imf 606 $aExports and Imports$2imf 606 $aFinance$2imf 606 $aFinance: General$2imf 606 $aFinancial Aspects of Economic Integration$2imf 606 $aFinancial institutions$2imf 606 $aFinancial Instruments$2imf 606 $aFinancial integration$2imf 606 $aFinancial markets$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInstitutional Investors$2imf 606 $aInternational economic integration$2imf 606 $aInternational economics$2imf 606 $aInternational finance$2imf 606 $aInternational Financial Markets$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Stocks$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aPension Funds$2imf 606 $aRegional integration$2imf 606 $aShort-term Capital Movements$2imf 606 $aStock exchanges$2imf 606 $aStock markets$2imf 606 $aStocks$2imf 607 $aCaribbean Area$xEconomic policy 607 $aTrinidad and Tobago$2imf 615 0$aFinance 615 0$aMacroeconomics. 615 7$aBalance of payments 615 7$aCurrent Account Adjustment 615 7$aCurrent account 615 7$aEconomic integration 615 7$aExports and Imports 615 7$aFinance 615 7$aFinance: General 615 7$aFinancial Aspects of Economic Integration 615 7$aFinancial institutions 615 7$aFinancial Instruments 615 7$aFinancial integration 615 7$aFinancial markets 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInstitutional Investors 615 7$aInternational economic integration 615 7$aInternational economics 615 7$aInternational finance 615 7$aInternational Financial Markets 615 7$aInvestment & securities 615 7$aInvestments: Stocks 615 7$aNon-bank Financial Institutions 615 7$aPension Funds 615 7$aRegional integration 615 7$aShort-term Capital Movements 615 7$aStock exchanges 615 7$aStock markets 615 7$aStocks 676 $a332.4;332.41;332.4109729 700 $aKwon$b Goohoon$01816119 701 $aEspinoza$b Raphael$01143129 712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910960887403321 996 $aRegional Financial Integration in the Caribbean$94372536 997 $aUNINA LEADER 02358nas 2200517-a 450 001 9910141406103321 005 20260218110723.0 011 $a2287-3139 035 $a(OCoLC)888378321 035 $a(CKB)2670000000274519 035 $a(CONSER)--2014243534 035 $a(DE-599)ZDB3019808-2 035 $a(NjHacI)992670000000274519 035 $a(DE-599)3019808-2 035 $a(EXLCZ)992670000000274519 100 $a20120725a20129999 --- - 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cn$2rdamedia 183 $acr$2rdacarrier 200 00$aJournal of cerebrovascular and endovascular neurosurgery 210 $aSeoul $cKorean Society of Cerebrovascular Surgeons 210 1$aSeoul :$cKorean Society of Cerebrovascular Surgeons,$d2012. 215 $a1 online resource 300 $aRefereed/Peer-reviewed 311 08$a2234-8565 327 $aOriginal Articles -- Intraarterial Tirofiban Thrombolysis for Thromboembolisms During Coil Embolization for Ruptured Intracranial Aneurysms -- Cognitive Function of Korean Neurosurgical Patients: Cross-sectional Study Using the Korean Version of the Mini-mental Status Examination -- Clinical Analysis of Giant Intracranial Aneurysms with Endovascular Embolization -- Endovascular and Microsurgical Treatment of Superior Cerebellar Artery Aneurysms -- Image Findings in Brain Developmental Venous Anomalies -- Case Report -- Coil Embolization of a Ruptured Basilar Tip Aneurysm Associated with Bilateral Cervical Internal Carotid Artery Occlusion: A Case Report and Literature Review. 606 $aCerebrovascular disease$xSurgery$vPeriodicals 606 $aCerebrovascular Disorders$xsurgery 606 $aNeurosurgical Procedures$xmethods 606 $aEndovascular Procedures$xmethods 608 $aPeriodical. 615 0$aCerebrovascular disease$xSurgery 615 12$aCerebrovascular Disorders$xsurgery. 615 12$aNeurosurgical Procedures$xmethods. 615 22$aEndovascular Procedures$xmethods. 676 $a617.48 712 02$aTaehan Noe Hy?lgwan Oegwa Hakhoe. 712 02$aTaehan Noe Hy?lgwannae Susul Hakhoe. 801 0$bNjHacI 801 1$bNjHacl 906 $aJOURNAL 912 $a9910141406103321 996 $aJournal of cerebrovascular and endovascular neurosurgery$92243943 997 $aUNINA