Series: IMF Working Papers
Author(s): Benoît Mercereau
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2006
Keywords: Risk-sharing, international diversification, financial integration, foreign assets, recession, international economic order, Financial Aspects of Economic Integration,
Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in...