Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/43218 
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dc.contributor.authorJappelli, Tullioen
dc.contributor.authorPagano, Marcoen
dc.date.accessioned2009-05-06-
dc.date.accessioned2010-12-15T09:21:57Z-
dc.date.available2010-12-15T09:21:57Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:hebis:30-60370en
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
dc.language.isoengen
dc.publisher|aGoethe University Frankfurt, Center for Financial Studies (CFS) |cFrankfurt a. M.en
dc.relation.ispartofseries|aCFS Working Paper |x2008/33en
dc.subject.jelG15en
dc.subject.jelG18en
dc.subject.ddc330en
dc.subject.keywordFinancial Market Integrationen
dc.subject.keywordFinancial Regulationen
dc.subject.keywordEMUen
dc.subject.stwFinanzmarkten
dc.subject.stwMarktintegrationen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwEU-Staatenen
dc.titleFinancial market integration under EMU-
dc.typeWorking Paperen
dc.identifier.ppn599232102en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cfswop:200833en

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