BIS paper finds real links matter for asset price co-movement

trade finance

Real economic integration is an important driver of co-movement between countries’ asset prices, in contrast to earlier findings, research published by the Bank for International Settlements says.

The paper highlights how many economists have converged around a view that financial links are more important for driving asset returns than real links, given the “surprisingly little” evidence for the importance of real economic ties.

In the working paper, Raphael Auer and co-authors develop a more

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: