Bruno, Giuseppe; De Bonis, Riccardo; Silvestrini, Andrea - In: Journal of Comparative Economics 40 (2012) 1, pp. 141-155
The objective of this paper is to study the issue of convergence of financial systems through the lens of asset … allocation. It examines β- and σ-convergence of the most important financial instruments: deposits, debt securities, shares and … existence of β-convergence of shares and insurance products, confirming an increasing importance of capital markets all over the …