This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of cross-listed stocks) provides a valuable measure of how capital controls and crises affect integration. The paper shows that, contrary to the common perception that...
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INFORMATION
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2008/11/01
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Document de travail de recherche sur les politiques
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WPS4770
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1
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1
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2010/07/01
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Disclosed
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Crises, capital controls, and financial integration
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capital control
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