International Financial Integration through the Law of One Price : The Role of Liquidity and Capital Controls

International Financial Integration through the Law of One Price : The Role of Liquidity and Capital Controls

This paper takes advantage of the fact that some stocks trade both in domestic and international markets to characterize the degree of international financial integration. The paper argues that the cross-market premium (the ratio between the domestic and the international market price of cross-liste...

Full description

Bibliographic Details
Main Authors:	Levy Yeyati, Eduardo, Schmukler, Sergio L., Van Horen, Neeltje
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Current Account Adjustment Short-term Capital Movements F320 International Financial Markets G150 General Financial Markets: Government Policy and Regulation G180 Economic Development: Financial Markets Saving and Capital Investment Corporate Finance and Governance O160 Socialist Institutions and Their Transitions: Financial Economics P340
Online Access:	http://hdl.handle.net/10986/4683

Similar Items

Patterns of International Capital Raisings
by: Gozzi, Juan Carlos, et al.
Published: (2012)

Formal Finance and Trade Credit during China's Transition
by: Cull, Robert, et al.
Published: (2012)

Subjective Perceptions of Financing Constraints: How Well Do They Reflect Credit Market Conditions?
by: Bouton, Lawrence, et al.
Published: (2012)

Emerging Market Liquidity and Crises
by: Levy Yeyati, Eduardo, et al.
Published: (2012)

Formal Versus Informal Finance : Evidence from China
by: Ayyagari, Meghana, et al.
Published: (2012)

Shadow Sovereign Ratings for Unrated Developing Countries
by: Ratha, Dilip, et al.
Published: (2012)

Culture and Stock Price Clustering: Evidence from The Peoples' Republic of China
by: Brown, Philip, et al.
Published: (2012)

Internationalization and the Evolution of Corporate Valuation
by: Gozzi, Juan Carlos, et al.
Published: (2012)

Debt Sustainability and the Ongoing Financial Crisis : The Case of IDA-Only African Countries
by: Hernandez, Leonardo, et al.
Published: (2012)

Entrepreneurship in Post-conflict Transition: The Role of Informality and Access to Finance
by: Demirgüç-Kunt, Asli, et al.
Published: (2012)

Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles
by: Kaminsky, Graciela Laura, et al.
Published: (2012)

Bank Involvement with SMEs : Beyond Relationship Lending
by: de la Torre, Augusto, et al.
Published: (2012)

Does Access to Credit Improve Productivity? Evidence from Bulgaria
by: Gatti, Roberta, et al.
Published: (2012)

Thresholds in the Process of International Financial Integration
by: Ayhan Kose, M., et al.
Published: (2012)

The Term Structure of Credit Spreads in Project Finance
by: Sorge, Marco, et al.
Published: (2012)

Bank Ownership Type and Banking Relationships
by: Berger, Allen N., et al.
Published: (2012)

The Impact of Banking Sector Reform in a Transition Economy : Evidence from Kyrgyzstan
by: Brown, Martin, et al.
Published: (2012)

Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
by: Levy-Yeyati, Eduardo, et al.
Published: (2012)

Export Incentives, Financial Constraints, and the (Mis)Allocation of Credit : Micro-level Evidence from Subsidized Export Loans
by: Zia, Bilal H.
Published: (2012)

Macro Volatility and Financial Crisis in Thailand : Some Historical Evidence
by: Pholphirul, Piriya
Published: (2012)

Big Constraints to Small Firms' Growth? Business Environment and Employment Growth across Firms
by: Aterido, Reyes, et al.
Published: (2012)

Returns to Capital in Microenterprises: Evidence from a Field Experiment
by: de Mel, Suresh, et al.
Published: (2012)

Banking Structure and Economic Growth : Evidence from China
by: Lin, Justin Yifu, et al.
Published: (2012)

Firm Liquidation and Economic Crisis under Unexpected Exchange Rate Shock
by: Gong, Qiang, et al.
Published: (2012)

Currency Undervaluation and Sovereign Wealth Funds: A New Role for the World Trade Organization
by: Mattoo, Aaditya, et al.
Published: (2012)

Bank Financing for SMEs: Evidence across Countries and Bank Ownership Types
by: Beck, Thorsten, et al.
Published: (2012)

Systemic Financial Distress and Auction-Based Bankruptcy Reorganization
by: Hausch, Donald B., et al.
Published: (2012)

The Political, Regulatory, and Market Failures That Caused the US Financial Crisis: What Are the Lessons?
by: Tarr, David G.
Published: (2012)

Impacts of the Triple Global Crisis on Growth and Poverty : The Case of Yemen
by: Breisinger, Clemens, et al.
Published: (2012)

Foreign Bank Participation and Outreach : Evidence from Mexico
by: Beck, Thorsten, et al.
Published: (2012)

Investor Protections and Economic Growth
by: Haidar, Jamal Ibrahim
Published: (2012)

Releasing Constraints to Growth or Pushing on a String? Policies and Performance of Mexican Micro-firms
by: Fajnzylber, Pablo, et al.
Published: (2012)

Substitution between Foreign Capital in China, India, the Rest of the World, and Latin America: Much Ado about Nothing?
by: Cravino, Javier, et al.
Published: (2012)

Institutions and Foreign Direct Investment : China versus the Rest of the World
by: Fan, Joseph P. H., et al.
Published: (2012)

What Makes Currencies Volatile? An Empirical Investigation
by: Bleaney, Michael, et al.
Published: (2012)

How Global Financial Markets Affect Sub-Saharan Africa
by: Delechat, Corinne, et al.
Published: (2012)

Related Lending and Banking Development
by: Cull, Robert, et al.
Published: (2012)

Banking on the Principles: Compliance with Basel Core Principles and Bank Soundness
by: Demirguc-Kunt, Asli, et al.
Published: (2012)

Equity Home-Bias : A Suboptimal Choice for UK Investors?
by: Antoniou, Antonios, et al.
Published: (2012)

Corporate Growth, Age and Ownership Structure: Empirical Evidence in Spanish Firms
by: de Jorge Moreno, Justo, et al.
Published: (2012)

Cannot write session to /tmp/vufind_sessions/sess_ovb76semvbhihqt243jfsjpvnl