The fundamental determinants of financial integration in the European Union

Lemmen, Jan; Eijffinger, Sylvester

doi:10.1007/bf02707507

Cited by 47 publications

(23 citation statements)

References 19 publications

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“…Our results represent a weak linkage between inflation and IFI and this is not like the previous finding of Lemmen & Eijffinger (1996).…”

Section: Insert Table 5 To Table 10 Herecontrasting

confidence: 98%

“…Some previous empirical research examines the determinants of capital controls (Alesina et al 1994;Epstein & Schor 1992;Lemmen & Eijffinger 1996;MilesiFerretti 1995). However, capital controls are considered as prerequisites for international financial integration ).…”

Section: They Clearly Differentiate Definitions Of Ifi and Different mentioning

confidence: 99%

“…Epstein & Schor (1992) construct an annual capital control index based on the IMF's annual publication entitled "Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER)". Lemmen & Eijffinger (1996) employ a continuous (and time-varying) measure for capital controls and find that inflation rates, government instability and investment are key determinants of capital controls within the European Union.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In addition, Lemmen and Eijffinger (1996) suggest that inflation rates significantly explain international financial integration within the European Union. Hence, we include inflation as a proxy for economic stability (INF).…”

Section: Institutional Legal and Investment Environmentmentioning

confidence: 99%

“…Consequently, high (low) levels of domestic credit and M2 may indicate the increased presence of capital export (import) controls (Lemmen & Eijffinger 1996) and hence the obstruction to international financial integration.…”

Section: Financial Market Development Financial System and Banking Smentioning

confidence: 99%

See 4 more Smart Citations

The determinants of international financial integration

Daly

2007

Global Finance Journal

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“…Our results represent a weak linkage between inflation and IFI and this is not like the previous finding of Lemmen & Eijffinger (1996).…”

Section: Insert Table 5 To Table 10 Herecontrasting

confidence: 98%

Section: They Clearly Differentiate Definitions Of Ifi and Different mentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Institutional Legal and Investment Environmentmentioning

confidence: 99%

Section: Financial Market Development Financial System and Banking Smentioning

confidence: 99%

See 3 more Smart Citations

The determinants of international financial integration

Daly

2007

Global Finance Journal

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Exchange controls, international capital flows and saving-investment correlations in the UK: An empirical investigation

Sarno¹,

Taylor²

1998

Weltwirtschaftliches Archiv

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Measuring the relative development and integration of EU countries’ capital markets using composite indicators and cluster analysis

Gucciardi

2022

Rev World Econ

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The paper proposes a set of metrics and a methodology to measure the progress that European Union Member States are making towards the development and integration of capital markets. It identifies a set of indicators and analyzes the performance of these countries over the 2007–2018 period using a composite indicator approach (in both a static and dynamic environment), based on the six priorities related to achieving a well-functioning and integrated European capital market included in the European Commission Capital Markets Union Action Plan. The author uses robust clustering to identify groups of countries and tracks their development over time. He finds that the process of capital market development and integration process has started but is not completed and that it is mainly associated with countries’ adherence to European increasing trends driven by the benchmarks rather than the policy actions of countries aimed at catching up with the best performers.

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The fundamental determinants of financial integration in the European Union

Cited by 47 publications

References 19 publications

The determinants of international financial integration

The determinants of international financial integration

Exchange controls, international capital flows and saving-investment correlations in the UK: An empirical investigation

Measuring the relative development and integration of EU countries’ capital markets using composite indicators and cluster analysis

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