This paper seeks to quantify existing financial barriers among East African Community (EAC) member countries based on analysis of each member country’s foreign exchange market. The primary contribution of this paper is the generation of an aggregate measure of financial barriers for the...

This paper empirically investigates whether the Austrian EU membership in 1995 resulted in more financial integration with Germany. A method recently developed in the literature that is robust to non-normality and timevarying volatility is used. It is found that EU membership has not resulted in...

The paper studies the link between the integration of European financial markets and corporate governance in Europe. The focus of the paper is on how integration affects the interplay of ownership structures, capital structures, and monitoring, all of which can be used to govern agency problems...

Against the backdrop of financial liberalisation, this paper examines India’s financial integration, both on the domestic and international fronts. Preliminary analysis of the secondary data shows India’s capital market grew significantly during 2001-2007 in terms of the trading...

The paper investigates whether higher financial integration leads in general to slower current account adjustments. The study estimates theoretically founded trade balance reaction functions for a panel of seventy countries from 1970-2004. The empirical analysis finds that adjustment in...

The aim of the paper is to analyze the process of financial integration in Europe and its impact on economic growth since the introduction of the Euro in 1999. In particular, we focus on how the international financial crisis that started in 2007 has affected integration and growth. By combining...

This paper presents some stylized features of the financial integration of the four basin regions (Baltic Sea, Black Sea, Caspian Sea and Mediterranean Sea regions) and discusses the developments, trends and features of the IIP in the regions. Chapter 3 identifies the gaps in them,...

According to Frankel (1992) in order to find financial integration from Feldstein Horoika (FH, 1980) model, the real interest parity must hold. This paper estimates the degree of financial market integration of South Asian countries i.e. Pakistan, India, Bangladesh, Sri Lanka and Nepal with both...