A Survey of Research Studies on Measurement of Financial Integration

Abstract

Financial integration being an increasingly important part of ongoing trade liberalization requires an in-depth analysis. This study seeks to survey all the available studies that try to measure the magnitude of cross-country integration. We see that primarily there are two types of measure available, viz De jure and De facto. These measures can be further broken down into different subparts which lay emphasis on different aspects of financial integration. We see that there is no accepted single universal index to measure financial integration, each actually having its own pros and cons and it is upon the researcher to use one or more that best fit his/her purpose.

Citation

Srivastava, V. and Chattopadhyay, A. (2019), "A Survey of Research Studies on Measurement of Financial Integration", Bhattacharyya, R. (Ed.) The Gains and Pains of Financial Integration and Trade Liberalization, Emerald Publishing Limited, Leeds, pp. 233-242. https://doi.org/10.1108/978-1-78973-999-220191027