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dc.contributor.authorEpaulard, Anne
dc.contributor.authorPommeret, Aude
dc.date.accessioned2020-01-07T09:06:17Z
dc.date.available2020-01-07T09:06:17Z
dc.date.issued2016
dc.identifier.issn1361-374X
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/20393
dc.language.isoenen
dc.subjectEndogenous Growthen
dc.subjectRisk-sharingen
dc.subjectStochastic Growthen
dc.subjectFinancial Integrationen
dc.subjectsmall open economyen
dc.subjectgrowth modelen
dc.subjectdeveloping economiesen
dc.subject.ddc337en
dc.subject.classificationjelO.O4.O41en
dc.subject.classificationjelF.F4.F43en
dc.subject.classificationjelF.F3.F36en
dc.subject.classificationjelF.F2.F20en
dc.subject.classificationjelE.E1.E13en
dc.titleFinancial Integration, Growth and Volatilityen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThe aim of this paper is to evaluate the welfare gains from financial integration for developing and emerging market economies. To do so, we build a stochastic endogenous growth model for a small open economy that can: (i) borrow from the rest of the world; (ii) invest in foreign assets; and (iii) receive foreign direct investment. The model is calibrated on 46 emerging market and developing economies for which we evaluate the upper bound for the welfare gain from financial integration. For plausible values of preference parameters and actual levels of financial integration, the mean welfare gain from financial integration is around 13.5% of initial wealth. Compared with financial autarcy, actual levels of financial integration translate into higher annual growth rates.en
dc.relation.isversionofjnlnamePacific Economic Review
dc.relation.isversionofjnlvol21en
dc.relation.isversionofjnlissue3en
dc.relation.isversionofjnldate2016-08
dc.relation.isversionofjnlpages330-357en
dc.relation.isversionofdoi10.1111/1468-0106.12177en
dc.identifier.urlsitehttps://doi.org/10.1111/1468-0106.12177en
dc.relation.isversionofjnlpublisherWileyen
dc.subject.ddclabelEconomie internationaleen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidatenonen
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewednonen
dc.relation.Isversionofjnlpeerreviewednonen
dc.date.updated2019-12-04T14:26:32Z
hal.person.labIds163511
hal.person.labIds432899


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