Journal article
Mark L. J. Wright
Economics Letters, vol. 87(3), 2005, pp. 379-386
Economics Letters, vol. 87(3), 2005, pp. 379-386
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APA
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Wright, M. L. J. (2005). On the gains from international financial integration. Economics Letters, 87(3), 379–386. https://doi.org/10.1016/j.econlet.2005.01.007
Chicago/Turabian
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Wright, Mark L. J. “On the Gains from International Financial Integration.” Economics Letters 87, no. 3 (2005): 379–386.
MLA
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Wright, Mark L. J. “On the Gains from International Financial Integration.” Economics Letters, vol. 87, no. 3, 2005, pp. 379–86, doi:10.1016/j.econlet.2005.01.007.
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@article{mark2005a,
title = {On the gains from international financial integration},
year = {2005},
issue = {3},
journal = {Economics Letters},
pages = {379-386},
volume = {87},
doi = {10.1016/j.econlet.2005.01.007},
author = {Wright, Mark L. J.}
}
Abstract
Are there large unexploited gains from international financial integration? Why do they remain unexploited? This paper shows that when market incompleteness leads foreigners and residents to value firms differently, multiple equilibria arise where domestic residents purchase very inefficient domestic firms.
Keywords: International risk sharing; Incomplete markets; Welfare gains
JEL classification: F30; F41
