THE DEGREE OF FINANCIAL INTEGRATION IN THE EUROPEAN-COMMUNITY

Firstly, this study discusses four different definitions of internatio nal capital mobility. Furthermore, a theoretical and empirical analysi s of the quantity and the price approach to financial integration is g iven. The empirical analysis is confined to the member states of the E uropean Community. With regard to the price approach a distinction is made between integration of money markets and that of capital markets. Finally, the study draws some general conclusions based on the empiri cal research.