ABSTRACT

Through a survey of literature in the measurement of financial integration (FI), this study explores the historical footprints on the measurement of financial integration, key issues, and challenges. We document the evolution of measurements during 1980–2018 and extend the measurement classification with specific criteria associated with the measurements. Furthermore, this study identifies the strength and weaknesses of existing measurements and highlights the need and criteria for choosing an appropriate measure. Finally, our study concludes that as one of the pillars of globalization, appropriate quantification of FI is a major challenge and crucial for monitoring the level and effect of FI for an economy.

摘要

本研究通过对金融一体化（FI）计量方面的文献进行调查，探讨金融一体化计量的历史足迹、关键问题和挑战。我们记录了 1980-2018 年间测量的演变，并使用与测量相关的特定标准扩展了测量分类。此外，本研究确定了现有测量的优缺点，并强调了选择适当测量的必要性和标准。最后，我们的研究得出结论，作为全球化的支柱之一，对 FI 进行适当量化是一项重大挑战，对于监测 FI 对经济体的水平和影响至关重要。