Indicatori de măsurare a integrării financiare europene. Literature review
[Measuring European financial market integration. A literature review]
AbstractThe purpose of this paper is to highlight the level of European financial integration, based on the academic literature analyzing a comprehensive set of indicators and methodologies. We structured our research on sections that present a theoretical approach of the instruments that will be used in order to evaluate the progress of financial integration and their limits; the evolution of this process from EMU to the global crisis and beyond by studying financial integration indicators according to Adam et al. (2002) classification, and some considerations about the developments in the European Union new member states. Our concluding remarks outline the widespread use of quantitative and price-based indicators, as well as the different degree of integration from one financial sector to another.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 28737.
Date of creation: 08 Feb 2011
Date of revision:
financial integration; common currency; the law of one price; beta convergence; home bias;
Find related papers by JEL classification:
- F30 - International Economics - - International Finance - - - General
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-19 (All new papers)
- NEP-CIS-2011-02-19 (Confederation of Independent States)
- NEP-MIC-2011-02-19 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Financial Integration of Stock Markets among New EU Member States and the Euro Area,"
2007/7, Czech National Bank, Research Department.
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- Brada, Josef C. & Kutan, Ali M. & Zhou, Su, 2005. "Real and monetary convergence between the European Union's core and recent member countries: A rolling cointegration approach," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 249-270, January.
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- Kpate ADJAOUTÉ & Jean-Pierre DANTHINE & Dušan ISAKOV, 2003. "Portfolio Diversification in Europe," FAME Research Paper Series rp86, International Center for Financial Asset Management and Engineering.
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