Monetary Integration With or Without Capital Market Integration
AbstractShould East Asia include capital market integration as one of its convergence criteria for monetary integration? Monetary integration in the form of currency baskets or a monetary union would be facilitated if the capital markets were well integrated. East Asian markets are segmented and monetary cooperation in East Asia is not moving forward. This paper shows that even before the launch of the European Monetary Union, European markets were not showing visible progress in capital market integration, and that the degree of integration was below the degree of U.S.-Canadian market integration. The results suggest that monetary integration is not necessarily motivated by capital market integration. (c) 2009 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by MIT Press in its journal Asian Economic Papers.
Volume (Year): 8 (2009)
Issue (Month): 2 (June)
Contact details of provider:
Web page: http://mitpress.mit.edu/journals/
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).
If references are entirely missing, you can add them using this form.