publication . Preprint . 1997

Interest Parity Conditions as Indicators of Financial Integration in East Asia

Gordon de Brouwer;
Open Access
  • Published: 01 Jun 1997
Market participants and policymakers have a growing interest in the development of East Asian financial markets, and to the extent to which these markets are open and influenced by world markets. This paper examines the information contained in interest parity conditions about the international integration of a wide range of economies in East Asia. Legal restrictions on the capital account and tests of covered, uncovered and real interest parity are presented in some detail. Using standard regressions, cointegration analysis and error decompositions, it is argued that uncovered interest parity tests reveal a surprisingly large amount of information about financi...
free text keywords: jel:F15

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