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International Financial Integration: The Continuing Process

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  • Richard Herring

Abstract

This is the second chapter of a book, Financial Regulation in the Global Economy, Herring is writing with Robert Litan. In this chapter they show how technological advances - dramatic reductions in transportation, telecommunications and computation costs - are creating an increasingly integrated financial market that ignores national boundaries. First they examine the effect of these technological advanceson users of financial services, providers of financial services and regulators of financial services. Then they document the increasing volume of international financial transactions and evaluate the extent to which financial prices are integrated across countries. They conclude by highlighting the risks that are the consequence of increasing international financial integration and pose a challenge to managers of financial institutions and regulators.

Suggested Citation

  • Richard Herring, 1994. "International Financial Integration: The Continuing Process," Center for Financial Institutions Working Papers 94-23, Wharton School Center for Financial Institutions, University of Pennsylvania.
    • Handle: RePEc:wop:pennin:94-23
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    File URL: http://fic.wharton.upenn.edu/fic/papers/94/9423.pdf
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    References listed on IDEAS

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    Cited by:

    1. Vashishtha, Ashutosh & Sharma, Anil K., 2012. "Indian financial market regulation: A dialectic model," Journal of Economics and Business, Elsevier, vol. 64(1), pages 77-89.
    2. Daniel Stavarek, 2011. "European exchange rates volatility and its asymmetrical components during the financial crisis," MENDELU Working Papers in Business and Economics 2011-17, Mendel University in Brno, Faculty of Business and Economics.

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