Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/101180
Authors: 
Rose, Andrew K.
Year of Publication: 
2012
Series/Report no.: 
ADBI Working Paper Series 341
Abstract: 
This paper analyzes the causes of the 2008 - 2009 global financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. The analysis is conducted on a cross-section of 85 countries. It is found that more financially integrated countries do not seem to have suffered more during the most serious macroeconomic crisis in decades. This strengthens the case for international financial integration; if the costs of international financial integration were not great during the Great Recession, when could we ever expect them to be larger?
Subjects: 
global financial crisis
international financial integration
JEL: 
E65
F30
Document Type: 
Working Paper

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