The determinants of international financial integration

Xuan Vinh Vo, Kevin James Daly

    Research output: Contribution to journalArticle

    Abstract

    It is generally accepted that there has been an increase in the degree of international financial integration over the last two decades. As a result, international financial integration has become a topical area of research for many financial economists. To enrich the literature in this area, our paper provides an empirical investigation into identifying the potential “drivers” of international financial integration including policy on capital controls, the level of economic and educational development, economic growth, institutional and legal environment, trade openness, financial development and tax policy. Overall, the results provide strong evidence in support of our choice of drivers of international financial integration.
    Original languageEnglish
    Number of pages23
    JournalGlobal Finance Journal
    DOIs
    Publication statusPublished - 2007

    Keywords

    • capital movements
    • economic development
    • international finance
    • investments, foreign
    • money market
    • portfolio management

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