Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/70696
Authors: 
Baier, Scott L.
Dwyer, Gerald P.
Year of Publication: 
2008
Series/Report no.: 
Working Paper, Federal Reserve Bank of Atlanta 2008-14
Abstract: 
We examine the relationship between real and financial integration. Real integration is measured by productivities of capital and labor from trade data for 1982 to 1997. Financial integration is measured by the black market exchange rate. We find more evidence of convergence to equality for returns to capital than for returns to labor. There is some support for associating the convergence of black market premia with declines in black market premia.
Subjects: 
financial integration
factor-market integration
trade productivities
black market exchange rates
JEL: 
F15
F36
Document Type: 
Working Paper

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