Considerations On The Prospects Of The Integration Of The European Financial Markets In The Context Of The Global Crisis
AbstractIn recent years, as the efforts linked to the elimination of the capital movements control between countries have intensified, the preoccupations concerning the explanation of the financial integration concept have multiplied, in their turn. An integrated financial market is necessary particularly to the distribution of liquidity between the institutions in the euro zone, and, implicitly, for the enforcement of a common monetary policy. Thus, the problem of the integration of the financial market, respectively of the monetary one, appears as a premise for a homogenous transmission of the financial policy impulses all throughout the euro zone. The financial integration is defined in conformity with the law of a single price. According to this definition, in case the markets are integrated, the financial assets bearing identical characteristics should have the same price, regardless of their geographic origin.
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Bibliographic InfoArticle provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.
Volume (Year): 1 (2010)
Issue (Month): 2 (December)
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: financial market; financial stability; euro zone; single currency;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
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- Lommatzsch, Kirsten & Tober, Silke, 2002. "Monetary policy aspects of the enlargement of the Euro area," Research Notes 4, Deutsche Bank Research.
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