This report reviews, analyses and applies alternative indicators and monitoring
methodologies to measure the evolution of capital market integration in the European Union …

Using both quantity‐and price‐based measures of financial integration, the paper shows an
increasing degree of financial openness and integration in emerging Asia. Assessing the …

Is America an empire? Certainly not, according to our government. Despite the conquest of
two sovereign states in as many years, despite the presence of more than 750 military …

After three years of near stagnation, the mood in Europe is definitely gloomy. Many doubt
that the European model has a future. In this paper, I argue that things are not so bad, and …

The launch of the single currency in Europe in January 1999 was preceded by a period of
regulatory harmonization, convergence in bond yields and inflation rates, and strict fiscal …

This paper presents an overview of the impact of the introduction of the euro on Europe's
financial structure over the first four years since the start of EMU. It analyzes changes in …

EU capital markets have changed radically over the past 20 years. In the 1980s, countries
had their own financial industries and rules. Now there is one'Champions League'of banks …

This paper tests whether significant changes in stock return volatility, market risk, and foreign
exchange rate risk exposures took place around the launch of the Euro in 1999. The …

Can the euro challenge the supremacy of the US dollar as a global currency? From the time
Europe's joint money was born, many have predicted that it would soon achieve parity with …

This book considers some of the fundamental issues concerning the legal framework that
has been established to support a single EU securities market. It focuses particularly on how …