Consumption and liquidity constraints in Australia and East Asia: does financial integration matter?
Description
One of the recurring themes in the literature on financial systems is whether financial integration – that is, openness in the domestic and international financial system – has real, structural economic effects. This paper examines the effect of financial openness on the consumption of non-durables in Australia and selected East Asian economies. A range of variables, some of which explicitly represent financial regulation, are used to proxy the shadow price of the liquidity constraint....[Show more]
Collections | ANU Research Publications |
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Date published: | 1996 |
Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/39961 http://digitalcollections.anu.edu.au/handle/1885/39961 |
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File | Description | Size | Format | Image |
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RDP9602.pdf | 363.59 kB | Adobe PDF | ![]() |
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