The role of domestic financial and economic development in financial integration

被引：4
|
作者：
Cheng, Kent Jason G. [1 ,2 ]
Daway, Sarah Lynne S. [2 ]
机构：
[1] Univ Philippines Manila, Inst Hlth Policy & Dev Studies, Natl Inst Hlth, Manila, Philippines
[2] Univ Philippines Diliman, Sch Econ, Quezon City, Philippines
来源：
APPLIED ECONOMICS LETTERS | 2018年 / 25卷 / 02期
关键词：
Financial integration; financial development; economic development; system generalized method-of-moments estimator; CAPITAL FLOWS; PANEL-DATA; GROWTH; LIBERALIZATION; MODELS; FDI;
D O I：
10.1080/13504851.2017.1302054
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using two-step system generalized method-of-moments on an unbalanced panel of 75 countries from 1996 to 2010, this study shows that financial development's effect on the pace of a country's financial integration is conditional on economic development. Indeed, the results validate the observation that greater financial development conditioned on similar levels of economic development should precede closer financial integration.
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页码：119 / 124
页数：6
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