Departmental Bulletin Paper Empirical Study on Financial Cooperation in Asia: Will China and Japan Hinder Financial Integration ?

LV, Xin  ,  DONG, Weijia

63 ( 1 )  , pp.9 - 16 , 2015-06-30 , 名古屋大学大学院経済学研究科
ISSN:0022-9725
Description
This study examines financial cooperation in Asia, and checks whether the Asian leaders. China and Japan, hinder the financial integration of Asian countries. The study adopts Feldstein and Horioka's (1980) theoretical model and the panel data econometric model to test the financial integration of the main Asian countries from 1997 to 2012. We find that both China and Japan do hinder the financial integration of Asian countries. Furthermore, China's foreign exchange regulations could be the main factor hindering the financial integration of Asian countries.
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