Skip to main content

International capital market imperfections: evidence from geographical features of international consumption risk sharing

Buy Article:

$51.63 plus tax (Refund Policy)

Abstract:

This article attempts to rationalize the validity of gravity variables to explain the degree of international consumption risk sharing. We find that for a panel of 54 countries during 1950-2000, variables such as distance, affluence, a common language and the type of legal system are relevant in explaining not only cross-country consumption and output correlations, but consumption risk sharing. Common law countries share consumption risks more than civil law countries. English speaking countries turn out to share consumption risks more than other language groups, and show significantly higher consumption risk sharing even within the group of common law countries.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840601019042

Affiliations: Korea Institute for International Economic Policy, Seoul, 137-747, Korea

Publication date: March 1, 2009

More about this publication?
routledg/raef/2009/00000041/00000008/art00007
dcterms_title,dcterms_description,pub_keyword
6
5
20
40
5

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more