Document Type
Contribution to Book
Language
eng
Format of Original
19 p.
Publication Date
2006
Publisher
Springer
Source Publication
Return to Growth in CIS Countries
Source ISSN
9783540342632
Original Item ID
doi: 10.1007/3-540-34264-8_11
Abstract
We study whether financial openness facilitates the economic integration of formerly centrally planned economies with the EU-15. Two dimensions of economic integration are considered: cross-country convergence of per-capita incomes and bilateral trade in goods and services. We find that more financially open economies effectively catch-up faster and trade more with the EU-15. These integration-enhancing effects occur over and above any effect stemming from domestic financial deepening and other factors determining growth and trade.
Recommended Citation
Carmignani, Fabrizio and Chowdhury, Abdur, "The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS" (2006). Economics Faculty Research and Publications. 73.
https://epublications.marquette.edu/econ_fac/73
Comments
Published version. "The Impact of Financial Openness on Economic Integration: Evidence from Europe and the CIS," in Return to Growth in CIS Countries. Eds. Lúcio Vinhas de Souza and Oleh Havrylyshyn. Berlin: Springer, 2006: 281-299. DOI. © 2006 Springer.