Regional economic integration in the pacific : An empirical study

Jayaraman, T. K. and Lee, Huay Huay and Lee, Hock A. (2006) Regional economic integration in the pacific : An empirical study. Global Economic Review, 35 (2). pp. 177-192. ISSN 1226-508X


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The Pacific Islands Forum, the regional organization comprising 14 Pacific Island countries (PICs), Australia and New Zealand is committed to strengthen regional cooperation and integration. This paper examines progress in real and financial integration in the region. Utilizing the methodology based on international parity conditions: purchasing power parity and uncovered interest parity, the study concludes that while PICs' integration amongst themselves and with Australia and New Zealand, is relatively advanced with respect to goods and services, the financial market integration remains incomplete. The policy implication is impact of further liberalization is likely to be substantial on financial markets.

Item Type: Article
Keyword: Australia, Economic integration, New Zealand, Pacific islands, Purchasing power parity, Uncovered interest parity
Subjects: H Social Sciences > HG Finance > HG1-9999 Finance > HG3810-4000 Foreign exchange. International finance. International monetary system
H Social Sciences > HB Economic theory. Demography
Department: SCHOOL > Labuan School of International Business and Finance
Depositing User: ADMIN ADMIN
Date Deposited: 28 Feb 2012 12:36
Last Modified: 16 Oct 2017 16:12

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