Title of article
On the gains from international financial integration
Author/Authors
Mark L.J. Wright، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2005
Pages
8
From page
379
To page
386
Abstract
Are there large unexploited gains from international financial integration? Why do they remain unexploited? This paper shows that when market incompleteness leads foreigners and residents to value firms differently, multiple equilibria arise where domestic residents purchase very inefficient domestic firms.
Keywords
Incomplete markets , Welfare gains , International risk sharing
Journal title
Economics Letters
Serial Year
2005
Journal title
Economics Letters
Record number
435684
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