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The degree of financial integration in the European community

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Summary

Firstly, this study discusses four different definitions of international capital mobility. Furthermore, a theoretical and empirical analysis of the quantity and the price approach to financial integration is given. The empirical analysis is confined to the member states of the European 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 empirical research.

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Authors and Affiliations

  1. Department of Economics, Tilburg University, The Netherlands

    J. J. G. Lemmen & S. C. W. Eijffinger

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  1. J. J. G. Lemmen
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  2. S. C. W. Eijffinger
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The authors are grateful to Alexander Italianer, Helen MacFarlane, Theo Nijman and two anonymous referees for valuable comments on an earlier version of this article. Of course, the usual disclaimer applies.

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Lemmen, J.J.G., Eijffinger, S.C.W. The degree of financial integration in the European community. De Economist 141, 189–213 (1993). https://doi.org/10.1007/BF01717380

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