Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17702
Authors: 
Buch, Claudia M.
Year of Publication: 
2000
Series/Report no.: 
Kiel Working Paper 1004
Abstract: 
The introduction of the euro is expected to increase capital mobility in Euroland. While, as in the US, a common monetary policy is now performed, institutional structures are inherently more heterogenous. This paper argues that experience of the US with financial market integration can potentially serve as a benchmark for the integration effects. The paper finds that, despite the restrictions to the regional expansion of banks that have prevailed, the degree of financial integration within the US tends to exceed that within Europe. Implications of barriers to the free mobility of capital for monetary policy and banking supervision are discussed.
Subjects: 
financial market integration
deregulation
Europe
US
JEL: 
G2
Document Type: 
Working Paper

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