CHANGES IN THE EXTENT OF FINANCIAL INTEGRATION WITHIN THE EUROPEAN-COMMUNITY BETWEEN THE 1970S AND 1980S

Authors
PENTECOST EJ HOLMES MJ
Citation
Ej. Pentecost et Mj. Holmes, CHANGES IN THE EXTENT OF FINANCIAL INTEGRATION WITHIN THE EUROPEAN-COMMUNITY BETWEEN THE 1970S AND 1980S, Applied economics letters, 2(6), 1995, pp. 184-187
Citations number
7
Categorie Soggetti
Economics
Journal title
Applied economics letters → ACNP
ISSN journal
13504851
Volume
2
Issue
6
Year of publication
1995
Pages
184 - 187
Database
ISI
SICI code
1350-4851(1995)2:6<184:CITEOF>2.0.ZU;2-J
Abstract
This study investigates the co-variability of changes in nominal inter est rates for the main EC countries between April 1974 and January 199 2, using principal components analysis. We find that there is evidence of increased monetary interdependence and greater capital market inte gration, but this is not a universal or even experience across all cou ntries. EC capital markets also seem to have become more highly integr ated than the money markets.