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Social and Behavioral Sciences Commons

Open Access. Powered by Scholars. Published by Universities.®

2009

Portland State University

Economics Faculty Publications and Presentations

Financial integration

Articles 1 - 1 of 1

Full-Text Articles in Social and Behavioral Sciences

What Makes Developing Asia Resilient In A Financially Globalized World?, Hiro Ito, Juthathip Jongwanich, Akiko Terada-Hagiwara Dec 2009

What Makes Developing Asia Resilient In A Financially Globalized World?, Hiro Ito, Juthathip Jongwanich, Akiko Terada-Hagiwara

Economics Faculty Publications and Presentations

The pullbacks of capital inflows to developing Asia following the onset of the global financial crisis in 2008 have brought renewed attention to the role and benefits of financial globalization. A number of notable distinctions between the current global crisis and the Asian financial crisis have become evident. Solid domestic institutions, especially in the financial sector; swift policy responses; and a sound macroeconomic environment with adequate reserves have helped the region to manage well the adverse impacts of the global crisis. Empirical analysis examining the link between capital account openness and output volatility reveals that a developing country with a ...