World betas, consumption growth, and financial integration

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dc.contributor.authorLarrain, Borja
dc.date.accessioned2024-01-10T13:09:58Z
dc.date.available2024-01-10T13:09:58Z
dc.date.issued2011
dc.description.abstractWe define a country's beta as the covariance of domestic consumption growth with world consumption growth scaled by the world's variance. Beta is related to a country's risk-taking position in models of international financial integration. Empirically, we find that an increase in beta leads to an increase in average consumption growth. This beta-growth relationship is present only among countries with high levels of financial openness, and is absent among the rest. However, we cannot fully discard the presence of non-financial factors (e.g., trade openness) as determinants of the beta-growth relationship. (C) 2011 Elsevier Ltd. All rights reserved.
dc.fechaingreso.objetodigital27-03-2024
dc.format.extent20 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.jimonfin.2011.06.010
dc.identifier.issn0261-5606
dc.identifier.urihttps://doi.org/10.1016/j.jimonfin.2011.06.010
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/77731
dc.identifier.wosidWOS:000295439400006
dc.information.autorucEscuela de Administración;Larrain F;S/I;1815
dc.issue.numero6
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final1018
dc.pagina.inicio999
dc.publisherELSEVIER SCI LTD
dc.revistaJOURNAL OF INTERNATIONAL MONEY AND FINANCE
dc.rightsacceso restringido
dc.subjectFinancial integration
dc.subjectInternational risk-sharing
dc.subjectRisk-taking
dc.subjectConsumption growth
dc.subjectCAPITAL ACCOUNT LIBERALIZATION
dc.subjectEXPECTED STOCK RETURNS
dc.subjectCROSS-SECTION
dc.subjectECONOMIC-GROWTH
dc.subjectVOLATILITY
dc.subjectMODEL
dc.subjectRISK
dc.subjectEQUILIBRIUM
dc.subjectINDUSTRIAL
dc.subjectCOUNTRIES
dc.subject.ods08 Decent Work and Economic Growth
dc.subject.ods10 Reduced Inequality
dc.subject.ods01 No Poverty
dc.subject.odspa08 Trabajo decente y crecimiento económico
dc.subject.odspa10 Reducción de las desigualdades
dc.subject.odspa01 Fin de la pobreza
dc.titleWorld betas, consumption growth, and financial integration
dc.typeartículo
dc.volumen30
sipa.codpersvinculados1815
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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