| International Financial Integration 1990 Edition Contributor(s): Oxelheim, Lars (Author) |
|
 |
ISBN: 3540526293 ISBN-13: 9783540526292 Publisher: Springer OUR PRICE: $104.49 Product Type: Hardcover - Other Formats Published: May 1990 Annotation: There is widespread agreement in the current social and economic debate that the integration of nations is growing worldwide. Many structural signs in society suggest the same. Integration has become a catch word in the preparations for the internal market of the EC, and a keynote in the debate on association of non-community European countries. Integration has also become a catch word in the process of transformation going on in Eastern Europe. But when we turn to the question of how this integration should be defined and measured, there is very little consensus. Instead, there are numerous problems, not only about how to measure integration but even about how to define it. International Financial Integration discusses the importance and the implications of this particular type of integration and then looks at the most important problems connected with measuring it. Different ways of measuring as well as the potential autonomy for national monetary policy are evaluated, and an alternative way of measurement is elaborated and advocated. All methods are discussed in detail and demonstrated in an extensive empirical analysis. |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - General - Business & Economics | Finance - General - Business & Economics | International - Economics |
| Dewey: 332.042 |
| LCCN: 90009871 |
| Physical Information: 389 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: There is widespread agreement in the current social and economic debate that the nations of the world are becoming increasingly integrated. Many structural signs in society also suggest that this is so. Integration has become a catchword in the prepara- tions for the internal market of the EC, and a keynote in the debate about association for the European countries which do not belong to the Community. But when we turn to the question of how this integration should be measured, there is very little con- sensus. Instead there are numerous problems, not only about how to measure integra- tion but even about how to define it. In this book I shall discuss the import and implications of a particular type of integration, namely financial integration, and then look at the most important problems connected with measuring it. In the empirical investigation reported below I felt the need for an integrated micro-macro approach. Further, I decided to illustrate the measurement problems by studying a small and relatively open economy where exchange controls have been imposed by the government in an attempt to reduce the flow of interest-sensitive capital out of the country, and thus to acquire autonomy for the national monetary policy. An interview study has been carried out with a view to illustrating among other things how expectations are formed among the major actors on the financial market, and this provided additional input for an analysis of the level of financial integration. |
