LEADER 07566oam 22012854 450 001 9910779270403321 005 20230725060402.0 010 $a1-4639-7766-2 010 $a1-4639-4880-8 010 $a1-283-57065-3 010 $a9786613883100 010 $a1-4639-2518-2 035 $a(CKB)2550000000102558 035 $a(EBL)1587674 035 $a(SSID)ssj0000952927 035 $a(PQKBManifestationID)11510995 035 $a(PQKBTitleCode)TC0000952927 035 $a(PQKBWorkID)10910033 035 $a(PQKB)10960802 035 $a(MiAaPQ)EBC1587674 035 $a(Au-PeEL)EBL1587674 035 $a(CaPaEBR)ebr10556812 035 $a(CaONFJC)MIL388310 035 $a(OCoLC)867927744 035 $a(IMF)WPIEE2011243 035 $a(EXLCZ)992550000000102558 100 $a20020129d2011 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial Integration and Rebalancing in Asia /$fOlaf Unteroberdoerster, Runchana Pongsaparn 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2011. 215 $a1 online resource (57 p.) 225 1 $aIMF Working Papers 300 $a"October 2011". 311 $a1-4639-2264-7 320 $aIncludes bibliographical references. 327 $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Measuring Financial Integration; A. Literature Review; B. Trends in Cross-Border Direct and Portfolio Investment, and Banking; 1. Total Portfolio Investment Liabilities by Region; 2. Total Portfolio Investment Assets by Region; 3. Total Portfolio Investment Liabilities to GDP by Region; 4. Total Portfolio Investment Assets to GDP by Region; 5. Source of Portfolio Investment Liabilities (average 2004-07); 6. Destination of Portfolio Investment Assets (average 2004-07) 327 $a7. Source of Regional Portfolio Investment Liabilities (average 2004-07)8. Contribution to year-on-year Growth of Total Portfolio Investment Liabilities; 9. Regional and Non-regional Sources of Portfolio Investment Liabilities (Corrected for Financial Center Intermediary); 10. Debt and Equity Portfolio Investment Liabilities to GDP; 11. Total Foreign Direct Investment Inflows by Region; 12. Total Foreign Direct Investment Outflows by Region; 13. Total Foreign Direct Investment Inflows to GDP by Region; 14. Total Foreign Direct Investment Outflows to GDP by Region 327 $a15. Sources of FDI Inflows (as of 2007)16. Destinations of FDI Outflows (as of 2007); 17. Sources of Regional FDI Inflows (as of 2007); 18. Total Liabilities vis-a?-vis Reporting Banks; 19. Total Assets vis-a?-vis Reporting Banks; 20. Total Liabilities vis-a?-vis Reporting Banks to GDP; 21. Total Assets vis-a?-vis Reporting Banks to GDP; C. Is Financial Integration in Asia Lagging?; 22. z score for Financial Integration (average 2004-07); 23. Trade Intensity (average 2004-07); 24. Portfolio Investment Intensity (average 2004-07); 25. FDI Intensity (average 2004-07) 327 $a26. Banking Intensity (average 2004-07)27. Trade and Financial Intensity; 28. Country-specific Factors (Fixed Effects) of Financial Integration Equation; 1. Estimation of Financial Integration; 2. Estimation of Portfolio Gravity Model; 3. Comparing the Degree of Portfolio Integration; D. Capital Account Restrictions, Financial Development, and Financial Integration; 29. Capital Restrictions and Trade to Financial Intensity Ratio; 30. Capital Restriction Indices (as of 2005); 31. Liabilities and Assets to GDP by Type (Asia excluding Financial Centers) 327 $a32. Capital Restriction Indices (Asia excluding financial centers)4. Macroprudential Measures in Asia; 33. Domestic Financial Reform and Capital Restriction Index; 34. Financial Reform Index and Private Sector Credit to GDP; 35. Financial Integration and Financial Development; III. Asia Rebalancing: A Role for Financial Integration?; A. The Link between Financial Integration and Rebalancing; B. Empirical Estimates; 36. Current Account to GDP by Region; 5. Estimation of Augmented Macroeconomic Balance Approach; 37. Change in CA to GDP due to Increase of Financial Integration to Global Norm 327 $aIV. Conclusion 330 3 $aThe paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2011/243 606 $aCapital movements$zAsia 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics: Consumption, Saving, Production, Employment and Investment: Other$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aFinancial Economics: General$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aInternational Investment$2imf 606 $aLong-term Capital Movements$2imf 606 $aFinance$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aFinancial integration$2imf 606 $aPortfolio investment$2imf 606 $aForeign direct investment$2imf 606 $aFinancial sector development$2imf 606 $aExchange rates$2imf 606 $aFinancial markets$2imf 606 $aBalance of payments$2imf 606 $aInternational finance$2imf 606 $aPortfolio management$2imf 606 $aInvestments, Foreign$2imf 606 $aFinancial services industry$2imf 607 $aAsia$xEconomic integration 607 $aAsia$xForeign economic relations 607 $aHong Kong Special Administrative Region, People's Republic of China$2imf 615 0$aCapital movements 615 7$aExports and Imports 615 7$aFinance: General 615 7$aForeign Exchange 615 7$aMacroeconomics: Consumption, Saving, Production, Employment and Investment: Other 615 7$aFinancial Markets and the Macroeconomy 615 7$aFinancial Economics: General 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aInternational Investment 615 7$aLong-term Capital Movements 615 7$aFinance 615 7$aCurrency 615 7$aForeign exchange 615 7$aFinancial integration 615 7$aPortfolio investment 615 7$aForeign direct investment 615 7$aFinancial sector development 615 7$aExchange rates 615 7$aFinancial markets 615 7$aBalance of payments 615 7$aInternational finance 615 7$aPortfolio management 615 7$aInvestments, Foreign 615 7$aFinancial services industry 700 $aUnteroberdoerster$b Olaf$01543192 701 $aPongsaparn$b Runchana$01543193 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779270403321 996 $aFinancial Integration and Rebalancing in Asia$93796522 997 $aUNINA