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http://hdl.handle.net/10419/63374
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| Title: | | Does financial openness promote economic integration? Some evidence from Europe and the CIS  |
| Authors: | | Carmignani, Fabrizio 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. |
| Subjects: | | economic integration financial openness gravity models catching-up |
| JEL: | | F10 F15 F30 F36 F40 |
| ISBN: | | 9291907626 |
| Document Type: | | Working Paper |
| Appears in Collections: | | WIDER Research Papers, United Nations University (UNU)
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