메뉴 건너뛰기




Volumn 30, Issue 1, 2011, Pages 147-179

Thresholds in the process of international financial integration

Author keywords

Capital account liberalization; Financial development; Financial openness; Growth; Institutions; Macroeconomic policies; Threshold conditions

Indexed keywords


EID: 78651444736     PISSN: 02615606     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jimonfin.2010.08.005     Document Type: Article
Times cited : (206)

References (66)
  • 2
    • 0033775555 scopus 로고    scopus 로고
    • Macroeconomic fluctuations in developing countries: some stylized facts
    • Agenor P., McDermott C.J., Prasad E.S. Macroeconomic fluctuations in developing countries: some stylized facts. World Bank Economic Review 2000, 14(2):251-285.
    • (2000) World Bank Economic Review , vol.14 , Issue.2 , pp. 251-285
    • Agenor, P.1    McDermott, C.J.2    Prasad, E.S.3
  • 3
    • 4544255274 scopus 로고    scopus 로고
    • Financial development and the instability of open economies
    • Aghion P., Bacchetta P., Banerjee A. Financial development and the instability of open economies. Journal of Monetary Economics 2004, 51(6):1077-1106.
    • (2004) Journal of Monetary Economics , vol.51 , Issue.6 , pp. 1077-1106
    • Aghion, P.1    Bacchetta, P.2    Banerjee, A.3
  • 5
    • 65649107245 scopus 로고    scopus 로고
    • Exchange rate volatility and productivity growth: The role of financial development
    • Aghion P., Bacchetta P., Rancière R., Rogoff R. Exchange rate volatility and productivity growth: The role of financial development. Journal of Monetary Economics 2009, 56(4):494-513.
    • (2009) Journal of Monetary Economics , vol.56 , Issue.4 , pp. 494-513
    • Aghion, P.1    Bacchetta, P.2    Rancière, R.3    Rogoff, R.4
  • 6
    • 33947532208 scopus 로고    scopus 로고
    • Emerging market business cycles: the cycle is the trend
    • Aguiar M., Gopinath G. Emerging market business cycles: the cycle is the trend. Journal of Political Economy 2007, 115:69-102.
    • (2007) Journal of Political Economy , vol.115 , pp. 69-102
    • Aguiar, M.1    Gopinath, G.2
  • 8
    • 34250338969 scopus 로고    scopus 로고
    • Sources for financing domestic capital - is foreign saving a viable option for developing countries?
    • Aizenman J., Pinto B., Radziwill A. Sources for financing domestic capital - is foreign saving a viable option for developing countries?. Journal of International Money and Finance 2007, 26(5):682-702.
    • (2007) Journal of International Money and Finance , vol.26 , Issue.5 , pp. 682-702
    • Aizenman, J.1    Pinto, B.2    Radziwill, A.3
  • 10
    • 78651424175 scopus 로고    scopus 로고
    • Adjusting to capital account liberalization, in preparation.
    • Aoki, K., Benigno, G., Kiyotaki, N. Adjusting to capital account liberalization, in preparation.
    • Aoki, K.1    Benigno, G.2    Kiyotaki, N.3
  • 12
    • 4344583937 scopus 로고    scopus 로고
    • Inequality and growth: what can the data say?
    • Banerjee A.V., Duflo E. Inequality and growth: what can the data say?. Journal of Economic Growth 2003, 8(3):267-299.
    • (2003) Journal of Economic Growth , vol.8 , Issue.3 , pp. 267-299
    • Banerjee, A.V.1    Duflo, E.2
  • 13
    • 0034918605 scopus 로고    scopus 로고
    • International data on educational attainment: updates and implications
    • Barro R.J., Lee J.-W. International data on educational attainment: updates and implications. Oxford Economic Papers 2001, 53(3):541-563.
    • (2001) Oxford Economic Papers , vol.53 , Issue.3 , pp. 541-563
    • Barro, R.J.1    Lee, J.-W.2
  • 14
    • 0031400186 scopus 로고    scopus 로고
    • Capital-account liberalization as a signal
    • Bartolini L., Drazen A. Capital-account liberalization as a signal. American Economic Review 1997, 87(1):138-154.
    • (1997) American Economic Review , vol.87 , Issue.1 , pp. 138-154
    • Bartolini, L.1    Drazen, A.2
  • 18
    • 0042409462 scopus 로고    scopus 로고
    • International and domestic collateral constraints in a model of emerging market crises
    • Caballero R.J., Krishnamurthy A. International and domestic collateral constraints in a model of emerging market crises. Journal of Monetary Economics 2001, 48(3):513-548.
    • (2001) Journal of Monetary Economics , vol.48 , Issue.3 , pp. 513-548
    • Caballero, R.J.1    Krishnamurthy, A.2
  • 19
    • 78651432305 scopus 로고    scopus 로고
    • On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects. Proceedings, Federal Reserve Bank of San Francisco, June.
    • Calvo, G., Izquierdo, A., Mejia, L.-F., 2004. On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects. Proceedings, Federal Reserve Bank of San Francisco, June.
    • (2004)
    • Calvo, G.1    Izquierdo, A.2    Mejia, L.-F.3
  • 20
    • 33645933802 scopus 로고    scopus 로고
    • Does foreign direct investment accelerate economic growth?
    • Institute for International Economics Center for Global Development, Washington, T.H. Moran, E.M. Graham, M. Blomström (Eds.)
    • Carkovic M., Levine R. Does foreign direct investment accelerate economic growth?. Does Foreign Investment Promote Development? 2005, 195-220. Institute for International Economics Center for Global Development, Washington. T.H. Moran, E.M. Graham, M. Blomström (Eds.).
    • (2005) Does Foreign Investment Promote Development? , pp. 195-220
    • Carkovic, M.1    Levine, R.2
  • 21
    • 18744390500 scopus 로고    scopus 로고
    • The influence of capital controls on long run growth: where and how much?
    • Chanda A. The influence of capital controls on long run growth: where and how much?. Journal of Development Economics 2005, 77(2):441-466.
    • (2005) Journal of Development Economics , vol.77 , Issue.2 , pp. 441-466
    • Chanda, A.1
  • 22
    • 67349231806 scopus 로고    scopus 로고
    • Openness can be good for growth: The role of policy complementarities
    • Chang R., Kaltani L., Loayza N.V. Openness can be good for growth: The role of policy complementarities. Journal of Development Economics 2009, 90(1):33-49.
    • (2009) Journal of Development Economics , vol.90 , Issue.1 , pp. 33-49
    • Chang, R.1    Kaltani, L.2    Loayza, N.V.3
  • 23
    • 33747358345 scopus 로고    scopus 로고
    • What matters for financial development? Capital controls, institutions, and interactions
    • Chinn M.D., Ito H. What matters for financial development? Capital controls, institutions, and interactions. Journal of Development Economics 2006, 81(1):163-192.
    • (2006) Journal of Development Economics , vol.81 , Issue.1 , pp. 163-192
    • Chinn, M.D.1    Ito, H.2
  • 24
    • 40649096558 scopus 로고    scopus 로고
    • Non-linear growth effects of financial development: does financial integration matter?
    • Coricelli F., Masten A.B., Masten I. Non-linear growth effects of financial development: does financial integration matter?. Journal of International Money and Finance 2008, 27(2):295-313.
    • (2008) Journal of International Money and Finance , vol.27 , Issue.2 , pp. 295-313
    • Coricelli, F.1    Masten, A.B.2    Masten, I.3
  • 25
    • 66049125028 scopus 로고    scopus 로고
    • Growth econometrics
    • North-Holland, Amsterdam, (Chapter 8), P. Aghion, S.N. Durlauf (Eds.)
    • Durlauf S.N., Johnson P.A., Temple J.R.W. Growth econometrics. Handbook of Economic Growth 2005, vol. 1:555-677. North-Holland, Amsterdam, (Chapter 8). P. Aghion, S.N. Durlauf (Eds.).
    • (2005) Handbook of Economic Growth , vol.1 , pp. 555-677
    • Durlauf, S.N.1    Johnson, P.A.2    Temple, J.R.W.3
  • 26
    • 4644354551 scopus 로고    scopus 로고
    • Capital account liberalization and economic performance: survey and synthesis
    • Edison H.J., Klein M.W., Ricci L.A., Sløk T. Capital account liberalization and economic performance: survey and synthesis. IMF Staff Papers 2004, 51(1):220-256.
    • (2004) IMF Staff Papers , vol.51 , Issue.1 , pp. 220-256
    • Edison, H.J.1    Klein, M.W.2    Ricci, L.A.3    Sløk, T.4
  • 27
    • 27744465080 scopus 로고    scopus 로고
    • Capital mobility and economic performance: are emerging economies different?
    • Edwards S. Capital mobility and economic performance: are emerging economies different?. NBER Working Paper No. 8076 2001.
    • (2001) NBER Working Paper No. 8076
    • Edwards, S.1
  • 28
    • 4043146502 scopus 로고    scopus 로고
    • Financial openness, sudden stops, and current-account reversals
    • Edwards S. Financial openness, sudden stops, and current-account reversals. American Economic Review 2004, 94(2):59-64.
    • (2004) American Economic Review , vol.94 , Issue.2 , pp. 59-64
    • Edwards, S.1
  • 29
    • 0035699209 scopus 로고    scopus 로고
    • Capital account liberalization: what do cross-country studies tell us?
    • Eichengreen B. Capital account liberalization: what do cross-country studies tell us?. World Bank Economic Review 2001, 15(3):341-365.
    • (2001) World Bank Economic Review , vol.15 , Issue.3 , pp. 341-365
    • Eichengreen, B.1
  • 30
    • 29444447320 scopus 로고    scopus 로고
    • Does Openness to Trade make Countries more Vulnerable to Sudden Stops or Less? Using Gravity to Establish Causality
    • Frankel J., Cavallo E.A. Does Openness to Trade make Countries more Vulnerable to Sudden Stops or Less? Using Gravity to Establish Causality. NBER Working Paper No. 10957 2004.
    • (2004) NBER Working Paper No. 10957
    • Frankel, J.1    Cavallo, E.A.2
  • 34
    • 0001028687 scopus 로고    scopus 로고
    • Sample splitting and threshold estimation
    • Hansen B.E. Sample splitting and threshold estimation. Econometrica 2000, 68(3):575-604.
    • (2000) Econometrica , vol.68 , Issue.3 , pp. 575-604
    • Hansen, B.E.1
  • 35
    • 0344704051 scopus 로고    scopus 로고
    • Foreign direct investment, financial development and economic growth
    • Hermes N., Lensink R. Foreign direct investment, financial development and economic growth. Journal of Development Studies 2003, 40(1):142-163.
    • (2003) Journal of Development Studies , vol.40 , Issue.1 , pp. 142-163
    • Hermes, N.1    Lensink, R.2
  • 38
    • 78651422766 scopus 로고    scopus 로고
    • Insightful Corporation, Seattle, Washington
    • Insightful Corporation S-Plus 8 Guide to Statistics 2007, vol. 1. Insightful Corporation, Seattle, Washington.
    • (2007) S-Plus 8 Guide to Statistics , vol.1
  • 40
    • 0037292733 scopus 로고    scopus 로고
    • Cronyism and capital controls: evidence from Malaysia
    • Johnson S., Mitton M.T. Cronyism and capital controls: evidence from Malaysia. Journal of Financial Economics 2003, 67(2):351-382.
    • (2003) Journal of Financial Economics , vol.67 , Issue.2 , pp. 351-382
    • Johnson, S.1    Mitton, M.T.2
  • 42
    • 73849109656 scopus 로고    scopus 로고
    • Capital Account Liberalization, Institutional Quality and Economic Growth: Theory and Evidence
    • Klein M.W. Capital Account Liberalization, Institutional Quality and Economic Growth: Theory and Evidence. NBER Working Paper No. 11112 2005.
    • (2005) NBER Working Paper No. 11112
    • Klein, M.W.1
  • 45
    • 78651436188 scopus 로고    scopus 로고
    • In Search of the Macroeconomic Effects of Capital Account Liberalization. Unpublished, World Bank, Washington D.C.
    • Kraay, A., 1998. In Search of the Macroeconomic Effects of Capital Account Liberalization. Unpublished, World Bank, Washington D.C.
    • (1998)
    • Kraay, A.1
  • 47
    • 34347377327 scopus 로고    scopus 로고
    • The external wealth of nations Mark II: revised and extended estimates of foreign assets and liabilities, 1970-2004
    • Lane P.R., Milesi-Ferretti G.M. The external wealth of nations Mark II: revised and extended estimates of foreign assets and liabilities, 1970-2004. Journal of International Economics 2007, 73(2):223-250.
    • (2007) Journal of International Economics , vol.73 , Issue.2 , pp. 223-250
    • Lane, P.R.1    Milesi-Ferretti, G.M.2
  • 51
  • 54
    • 51149104580 scopus 로고    scopus 로고
    • A pragmatic approach to capital account liberalization
    • Prasad E.S., Rajan R.G. A pragmatic approach to capital account liberalization. Journal of Economic Perspectives 2008, 22(3):149-172.
    • (2008) Journal of Economic Perspectives , vol.22 , Issue.3 , pp. 149-172
    • Prasad, E.S.1    Rajan, R.G.2
  • 55
    • 44849098128 scopus 로고    scopus 로고
    • Does capital account liberalization lead to growth?
    • Quinn D.P., Toyoda A.M. Does capital account liberalization lead to growth?. Review of Financial Studies 2008, 21(3):1403-1449.
    • (2008) Review of Financial Studies , vol.21 , Issue.3 , pp. 1403-1449
    • Quinn, D.P.1    Toyoda, A.M.2
  • 57
    • 0000218602 scopus 로고
    • Root-N-consistent semiparametric regression
    • Robinson P.M. Root-N-consistent semiparametric regression. Econometrica 1988, 56(4):931-954.
    • (1988) Econometrica , vol.56 , Issue.4 , pp. 931-954
    • Robinson, P.M.1
  • 58
    • 64349094413 scopus 로고    scopus 로고
    • Why did financial globalization disappoint?
    • Rodrik D., Subramanian A. Why did financial globalization disappoint?. IMF Staff Papers 2009, 56(1):112-138.
    • (2009) IMF Staff Papers , vol.56 , Issue.1 , pp. 112-138
    • Rodrik, D.1    Subramanian, A.2
  • 60
    • 50249090643 scopus 로고    scopus 로고
    • Center for Global Development, Working Paper No. 125, revised version
    • Roodman D. A Note on the Theme of too many Instruments 2008, Center for Global Development, Working Paper No. 125, revised version.
    • (2008) A Note on the Theme of too many Instruments
    • Roodman, D.1
  • 62
    • 0039189887 scopus 로고    scopus 로고
    • Domestic crony capitalism and international fickle capital: is there a connection?
    • Spring
    • Wei S.-J. Domestic crony capitalism and international fickle capital: is there a connection?. International Finance 2001, 4(Spring):15-46.
    • (2001) International Finance , vol.4 , pp. 15-46
    • Wei, S.-J.1
  • 63
    • 78651446947 scopus 로고    scopus 로고
    • Financial Instability in Emerging Market Countries: Causes and Remedies, Presented at the Forum on Debt and Development (FONDAD) Conference Stability, Growth and the Search for a New Development Agenda: Reconsidering the Washington Consensus, Santiago, Chile, March.
    • Wyplosz, C., 2004. Financial Instability in Emerging Market Countries: Causes and Remedies, Presented at the Forum on Debt and Development (FONDAD) Conference Stability, Growth and the Search for a New Development Agenda: Reconsidering the Washington Consensus, Santiago, Chile, March.
    • (2004)
    • Wyplosz, C.1
  • 64
    • 0001715050 scopus 로고    scopus 로고
    • Nonparametric regression techniques in economics
    • Yatchew A. Nonparametric regression techniques in economics. Journal of Economic Literature 1998, 36(2):669-721.
    • (1998) Journal of Economic Literature , vol.36 , Issue.2 , pp. 669-721
    • Yatchew, A.1
  • 66
    • 0242699635 scopus 로고    scopus 로고
    • Household gasoline demand in Canada
    • Yatchew A., No J.A. Household gasoline demand in Canada. Econometrica 2001, 69(6):1697-1709.
    • (2001) Econometrica , vol.69 , Issue.6 , pp. 1697-1709
    • Yatchew, A.1    No, J.A.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.