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The European Union made a number of steps not least of them the introduction of a common currency to foster the integration of the European financial markets. A number of papers have tried to gauge the degree of integration for various financial markets looking at the convergence of interest...
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. There is growing evidence that the appearance of the Euro has accelerated the integration of a number of financial markets … among those countries who have adopted the Euro. We identify the growth in financial integration as the process by which … idiosyncratic factors at the national level become less and less important for the behaviour of particular markets. While the Euro …
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