LEADER 05359nam 2200709Ia 450 001 9910814666703321 005 20200520144314.0 010 $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(Au-PeEL)EBL1587674 035 $a(CaPaEBR)ebr10556812 035 $a(CaONFJC)MIL388310 035 $a(OCoLC)867927744 035 $a(IMF)WPIEE2011243 035 $a(MiAaPQ)EBC1587674 035 $a(EXLCZ)992550000000102558 100 $a20130221d2011 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial integration and rebalancing in Asia /$fPrepared by Runchana Pongsaparn and Olaf Unteroberdoerster 205 $a1st ed. 210 $a[Washington, D.C] $cInternational Monetary Fund, Asia and Pacific Department$d[2011] 215 $a1 online resource (57 p.) 225 0 $aIMF working paper ;$vWP/11/243 300 $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 607 $aAsia$xEconomic integration 607 $aAsia$xForeign economic relations 615 0$aCapital movements 700 $aPongsaparn$b Runchana$01693837 701 $aUnteroberdoerster$b Olaf$01690282 712 02$aInternational Monetary Fund. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910814666703321 996 $aFinancial Integration and Rebalancing in Asia$94071938 997 $aUNINA