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Department of Applied Finance and Actuarial Studies

Seminar by Dr Eliza Wu

Research Seminars - business and economics
  • Topic: Decomposing Globalization
  • Speaker: Dr Eliza Wu, Associate Professor in Finance, UTS Business School
  • Venue:
  • Time:

This paper employs a new approach, based on analyst earnings forecasts, for measuring the extent
of nancial and economic integration across 46 developed countries and emerging markets and
also determines their underlying drivers. Results show robust evidence that nancial integration
dominates economic integration over the short horizon, but that economic integration becomes
more dominant for longer horizons of at least one year. We nd that developed markets are
both more economically and nancially integrated than emerging markets and that their degrees
of integration have more than doubled over the past 20 years. Emerging markets, on the other
hand, have experienced a signi cantly much slower pace of real economic integration with the
world markets, possibly attributing to their slow advancement in fostering greater trade openness,
growth, and transparent information environments that drive the extent of their real economic

To view the full paper click - Decomposing Globalization


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