Globalization of Financial Markets: Causes of Incomplete Integration and Consequences for Economic Policy

Globalization of Financial Markets: Causes of Incomplete Integration and Consequences for Economic Policy
ISBN-10
3540406379
ISBN-13
9783540406372
Category
Business & Economics
Pages
249
Language
English
Published
2004-05-26
Publisher
Springer Science & Business Media
Author
Claudia M. Buch

Description

The internationalization of financial markets is one of the focal points in the discussion about recent globalization trends. These discussions suggest that capital can move freely between countries. However, there is ample evidence that national borders do matter and that there are many implicit and explicit barriers to integration. Understanding the factors that unify and that separate financial markets and thus reconciling these two stylized facts is at the core of this book. While the main focus of the empirical work is on banking industry, results are yet informative also with regard to developments in other financial market segments. Also, the book uses European financial integration as a case study for general integration trends.

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