Article ID Journal Published Year Pages File Type
9549174 Economics Letters 2005 8 Pages PDF
Abstract
Are there large unexploited gains from international financial integration? Why do they remain unexploited? 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.
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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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On the gains from international financial integration
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