Contribution to Book
The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS
Return to Growth in CIS Countries
Document Type
Contribution to Book
Language
eng
Format of Original
19 p.
Publication Date
1-1-2006
Publisher
Springer
Original Item ID
doi: 10.1007/3-540-34264-8_11
Disciplines
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.
Citation Information
Fabrizio Carmignani and Abdur Chowdhury. "The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS" Return to Growth in CIS Countries (2006) ISSN: 9783540342632 Available at: http://works.bepress.com/abdur_chowdhury/42/
Published version. "The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS," in Return to Growth in CIS Countries. Eds. Lúcio Vinhas de Souza and Oleh Havrylyshyn. Berlin: Springer, 2006: 281-299. DOI. © 2006 Springer.