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|Title:||Does financial openness promote economic integration? Some evidence from Europe and the CIS |
Chowdhury, Abdur R.
|Issue Date:||2005 |
|Series/Report no.:||Research Paper, UNU-WIDER, United Nations University (UNU) 2005/74|
|Abstract:||We study whether financial openness facilitates the economic integration of formerly centrally planned economies with the EU-15. Two dimensions of economic integration are considered: cross-country convergence of per-capita incomes and bilateral trade in goods and services. We find that more financially open economies effectively catch-up faster and trade more with the EU-15. These integration-enhancing effects occur over and above any effect stemming from domestic financial deepening and other factors determining growth and trade.|
|Document Type:||Working Paper|
|Appears in Collections:||WIDER Research Papers, United Nations University (UNU)|
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