Abstract
Financial integration has made great steps forward in Europe in the last decade. Yet, if a single currency is a necessary condition for the emergence of pan-European capital markets, it is not a sufficient one. Even after the removal of exchange rate risk, persistent differences in the regulations applying to financial intermediaries, tax treatment, standard contractual clauses and business conventions, issuance policy, security trading systems, settlement systems, availability of information, and judicial enforcement may still segment markets along national lines. This chapter seeks to answer these questions in the broader context of the burgeoning literature on the links among regulation, finance, and real economic activity.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: The Evidence and Impact of Financial Globalization
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
