Are there large unexploited gains from international financial integration? Why do they remain unex-ploited? 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
We revisit the debate on the benefits of international financial integration. We build a partial equ...
My dissertation investigates issues concerning information asymmetry, imperfect capital markets, and...
We ask how the potential benefits from cross-border asset trade are affected by the presence of non-...
This Working Paper should not be reported as representing the views of the IMF. The views expressed ...
This paper studies international financial integration analyzing firms from various countries raisin...
Clemens C, Heinemann M. The Effects of International Financial Integration in a Model with Heterogen...
This paper studies the mechanisms through which financial integration affects the pattern of interna...
The paper investigates the impact of financial integration on asset return, risk diversification and...
Standard theoretical arguments tell us that countries with relatively little capital benefit from fi...
This paper analyses the effects of foreign entry on domestic welfare. Foreign entry may increase com...
Why do investors trade a lot in foreign assets and hold so little of them in their portfolios? This ...
The empirical literature finds mixed evidence on the existence of positive productivity exter-naliti...
How does financial integration impact capital accumulation, current-account dynamics, and cross-coun...
1We thank participants at the NBER Summer Institute “Aggregate Implica-tions of Microeconomic Consum...
In recent decades, foreign assets and liabilities in advanced countries have grown rapidly relative ...
We revisit the debate on the benefits of international financial integration. We build a partial equ...
My dissertation investigates issues concerning information asymmetry, imperfect capital markets, and...
We ask how the potential benefits from cross-border asset trade are affected by the presence of non-...
This Working Paper should not be reported as representing the views of the IMF. The views expressed ...
This paper studies international financial integration analyzing firms from various countries raisin...
Clemens C, Heinemann M. The Effects of International Financial Integration in a Model with Heterogen...
This paper studies the mechanisms through which financial integration affects the pattern of interna...
The paper investigates the impact of financial integration on asset return, risk diversification and...
Standard theoretical arguments tell us that countries with relatively little capital benefit from fi...
This paper analyses the effects of foreign entry on domestic welfare. Foreign entry may increase com...
Why do investors trade a lot in foreign assets and hold so little of them in their portfolios? This ...
The empirical literature finds mixed evidence on the existence of positive productivity exter-naliti...
How does financial integration impact capital accumulation, current-account dynamics, and cross-coun...
1We thank participants at the NBER Summer Institute “Aggregate Implica-tions of Microeconomic Consum...
In recent decades, foreign assets and liabilities in advanced countries have grown rapidly relative ...
We revisit the debate on the benefits of international financial integration. We build a partial equ...
My dissertation investigates issues concerning information asymmetry, imperfect capital markets, and...
We ask how the potential benefits from cross-border asset trade are affected by the presence of non-...
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