The introduction of the euro is expected to increase capital mobility in Euroland. While, as in the US, a common monetary policy is now performed, institutional structures are inherently more heterogenous. This paper argues that experience of the US with financial market integration can...

The integration of the central and eastern European countries into the international capital markets has been and will be determined by the process of European Union (EU) integration. Our analysis shows that southern and eastern European countries already appear to be surprisingly similar...