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dc.contributor.authorHeinemann, Friedrichen_US
dc.contributor.authorSchüler, Martinen_US
dc.description.abstractWith the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this distinction between wholesale and retail markets becomes crucial. There is a wide literature relating to integration of wholesale financial markets but just a few studies that try to measure integration in European retail markets. This paper, in a first step, gives a systematisation of the literature on measuring financial market integration with a focus on the distinction between wholesale and retail financial markets. In a second step, bivariate and multivariate cointegration techniques are used to assess the degree of integration in four loans and two deposit markets in the European Union. Finally, based on this analysis obstacles to financial market integration are discussed.en_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheim-
dc.relation.ispartofseriesZEW Discussion Papers 02-22en_US
dc.subject.keywordFinancial Market Integrationen_US
dc.subject.keywordEuropean Unionen_US
dc.subject.stwRetail Bankingen_US
dc.subject.stwInternationaler Finanzmarkten_US
dc.titleHow integrated are the European retail financial markets? A cointegration analysisen_US
dc.typeWorking Paperen_US
Appears in Collections:ZEW Discussion Papers, Zentrum für Europäische Wirtschaftsforschung (ZEW)
Publikationen von Forscherinnen und Forschern des Zentrums für Europäische Wirtschaftsforschung (ZEW)

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