Bank of Japan: financial integration stronger in developed markets
A Bank of Japan paper released in April finds that the effects of financial integration on economic growth are greater if an economy has stronger institutions and more developed financial markets.
The paper looks at the impact of financial integration on economic growth using an international panel data of 83 countries from 1974-2007 and breaks down external liabilities into foreign direct investment, equity liabilities and debt liabilities. The former has a positive impact on economic growth
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