Financial and Real Integration
نویسندگان
چکیده
We examine the relationship between real and financial integration. Real integration is measured by productivities of capital and labor from trade data for 1982 to 1997. Financial integration is measured by the black market exchange rate. We find more evidence of convergence to equality for returns to capital than for returns to labor. There is some support for associating the convergence of black market premia with declines in black market premia. JEL classification: F15, F36
منابع مشابه
The Role of International Financial Integration in Production and Inflation Fluctuations in Iran: Using a Dynamic Stochastic General Equilibrium Model
The effects of International financial integration on the fluctuations of variables in response to shocks are a matter of heavily concentrated literature of the business cycle in recent years. In this paper, a New Keynesian DSGE model is developed in which there is a channel for capital account changes through the foreign deposit's inflow and outflow. Then the effects of financial integration a...
متن کاملResponsiveness of the MENA Economic Growth to the EU Financial Integration: A Problem Evaluation
Department of Economics, University of Isfahan, Iran  Ahmad Googerdchian  Assistant Professor, Department of Economics, University of Isfahan, Iran   Abstract  Implementing a currency :::union::: may lead members to face financial crisis if their financial markets are not ready to adopt themselves to a new situation. There are still problems like ownership concentration and self-gover...
متن کاملFinancial Crisis and Steel Trade Integration in Asia and Pacific: A Static and Dynamic Analysis
The objective of this paper is to explore the effect of financial crisis on trade flows of steel industries in the major Asian-Pacific steel producing countries. Using a static and dynamic panel data analysis, we test the hypothesis that the global financial crisis has a negative effect on Asia-Pacific bilateral steel trade flows. We also examine the role of regional trade integration in bilate...
متن کاملThe Effects of Information System Integration on Financial Performance Mediated by Cost Performance and Quality Performance: An SEM-based Analysis
This study investigated the effects of information system (IS) integration on financial performance in Tehran Stock Exchange with an emphasis on the mediating role of cost performance and quality performance. This survey was carried out in 2018 by distributing 300 questionnaires among all CEOs, financial administrative vice-presidents, accounting managers, and accountants of manufacturing compa...
متن کامل