International Financial Integration of East Asia and Pacific

44 Pages Posted: 28 Jul 2016 Last revised: 27 Apr 2018

See all articles by Tatiana Didier

Tatiana Didier

World Bank

Ruth Llovet Montanes

World Bank

Sergio L. Schmukler

World Bank - Development Research Group (DECRG)

Tatiana Didier Brandao

affiliation not provided to SSRN

Date Written: July 27, 2016

Abstract

This paper provides a comprehensive analysis of how economies in the East Asia and Pacific (EAP) region have been integrating financially with the rest of the world since the 1990s, using bilateral data on portfolio investments, syndicated bank loans, mergers and acquisitions (M&As), and greenfield investments. Four main messages emerge from the analysis. First, theregion is increasingly more connected with itself and with the rest of the world, even relative to GDP. Second, although economies in the North capture the bulk of the region's inward and outward investments, EAP's connectivity with the South has grown relatively faster. Third, EAP is relatively more connected through arm's length financing (portfolio investments and syndicated loans) with the more financially developed North, and through FDI (M&A and greenfield investments) with itself and the South. Fourth, more developed EAP economies have a larger role in EAP?s arm?s length investments than in the region's FDI.

Keywords: International Trade and Trade Rules, Private Sector Development Law, Marketing, Private Sector Economics, Urban Solid Waste Management, Macroeconomic Management, Investment and Investment Climate

Suggested Citation

Didier, Tatiana and Llovet Montanes, Ruth and Schmukler, Sergio and Didier Brandao, Tatiana, International Financial Integration of East Asia and Pacific (July 27, 2016). World Bank Policy Research Working Paper No. 7772. Available at SSRN: https://ssrn.com/abstract=2815242

Tatiana Didier (Contact Author)

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States
(202)458-1525 (Phone)

Ruth Llovet Montanes

World Bank ( email )

1818 H Street, NW
Washington, DC 20433
United States

Sergio Schmukler

World Bank - Development Research Group (DECRG) ( email )

1818 H. Street, N.W.
MSN MC 3-301
Washington, DC 20433
United States
202-458-4167 (Phone)
202-522-3518 (Fax)

HOME PAGE: http://www.worldbank.org/en/about/people/s/sergio-schmukler

Tatiana Didier Brandao

affiliation not provided to SSRN

No Address Available

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