This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of cross-listed stocks) provides a valuable measure of how capital controls and crises affect integration. The paper shows that, contrary to the common perception that...
更多显示
详细
-
2008/11/01
-
政策研究报告
-
WPS4770
-
1
-
1
-
2010/07/01
-
Disclosed
-
Crises, capital controls, and financial integration
-
capital control