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dc.contributor.authorJappelli, Tullioen_US
dc.contributor.authorPagano, Marcoen_US
dc.date.accessioned2009-05-06en_US
dc.date.accessioned2010-12-15T09:21:57Z-
dc.date.available2010-12-15T09:21:57Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:hebis:30-60370-
dc.identifier.urihttp://hdl.handle.net/10419/43218-
dc.description.abstractThe single most important policy-induced innovation in the international financial system since the collapse of the Bretton-Woods regime is the institution of the European Monetary Union. This paper provides an account of how the process of financial integration has promoted financial development in the euro area. It starts by defining financial integration and how to measure it, analyzes the barriers that can prevent it and the effects of their removal on financial markets, and assesses whether the euro area has actually become more integrated. It then explores to which extent these changes in financial markets have influenced the performance of the euro-area economy, that is, its growth and investment, as well as its ability to adjust to shocks and to allow risk-sharing. The paper concludes analyzing further steps that are required to consolidate financial integration and enhance the future stability of financial markets.en_US
dc.language.isoengen_US
dc.publisherCenter for Financial Studies Frankfurt, Mainen_US
dc.relation.ispartofseriesCFS Working Paper 2008/33en_US
dc.subject.jelG15en_US
dc.subject.jelG18en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial Market Integrationen_US
dc.subject.keywordFinancial Regulationen_US
dc.subject.keywordEMUen_US
dc.subject.stwFinanzmarkten_US
dc.subject.stwMarktintegrationen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwEU-Staatenen_US
dc.titleFinancial market integration under EMUen_US
dc.typeWorking Paperen_US
dc.identifier.ppn599232102en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfswop:200833-
Appears in Collections:CFS Working Paper Series, Universität Frankfurt a. M.

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