| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP7091
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| DP7091 Financial Market Integration Under EMU |
| Marco Pagano; Tullio Jappelli
|
| 发表日期 | 2008-12-23
|
| 出版年 | 2008
|
| 语种 | 英语
|
| 摘要 | The 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. |
| 主题 | Financial Economics
|
| 关键词 | Financial market integration
Emu
|
| URL | https://cepr.org/publications/dp7091
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535928
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推荐引用方式
GB/T 7714 |
Marco Pagano,Tullio Jappelli. DP7091 Financial Market Integration Under EMU. 2008.
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