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What lies beneath the euro's effect on financial integration : currency risk, legal harmonization, or trade?

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2009

"Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in...

Persistent link: https://www.econbiz.de/10003851106

What lies beneath the euro's effect on financial integration? : currency risk, legal harmonization, or trade?

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in the...

Persistent link: https://www.econbiz.de/10003983654

EMU and capital markets : the institutional framework

Gros, Daniel - 1998

This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial markets will not be unified by the introduction of the euro. National central banks have a vested interest in preserving local idiosyncracies (e.g. the Wechsels in Germany) and...

Persistent link: https://www.econbiz.de/10009768844

Who needs foreign banks?

Gros, Daniel - 2003

10 countries from Central and Eastern Europe (CEEC) that will join the EU in 2004/7 the banking system is now dominated …

Persistent link: https://www.econbiz.de/10011508110

The structure of financial systems and macroeconomic instability

Gros, Daniel; Lannoo, Karel - In: EIB papers 4 (1999) 1, pp. 61-69

country in the EU. This is due to deeply-rooted structural differences in legal systems, development of markets and …-based forms of financing of investments by enterprises in the EU. Disintermediation, and institutionalisation of savings in … authorities would have reacted to something like the LTCM collapse in the EU is a good way to see the importance of these two …

Persistent link: https://www.econbiz.de/10011499203