Abstract : Gourinchas and Jeanne (2006) explain that the gains from capital market integration are small because the natural convergence of economies would have "done the work" of integration if it had not occurred. We provide a simple illustration of this standard theoretical argument using the simplest Solow model in a small open economy.
https://hal-unilim.archives-ouvertes.fr/hal-01324727
Contributeur : Thierno Barry
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Soumis le : mercredi 1 juin 2016 - 13:45:33
Dernière modification le : mercredi 28 février 2018 - 17:06:02
Document(s) archivé(s) le : vendredi 2 septembre 2016 - 10:28:44
Philippe Darreau, François Pigalle. Converge or integrate? A note on Gourinchas and Jeanne : The elusive gains
from international financial integration
. Economics Bulletin, Economics Bulletin, 2016, 36 (2), pp.789-792. 〈hal-01324727〉
