Abstract

http://ssrn.com/abstract=664126
 
 

References (1)



 


 



The Euro and Financial Market Integration


Hossein Askari


George Washington University - Department of International Business

Joydeep Chatterjee


University of Pennsylvania - Management Department


Journal of Common Market Studies, Vol. 43, No. 1, pp. 1-11, March 2005

Abstract:     
One of the projected benefits of the euro was to be a unified capital market. The cost of capital would be lower and this, coupled with the larger market, would motivate large EU entities to satisfy their financing needs within the euro area. Our results support the expectation that the financial markets of the euro area countries would become more unified with a lowered cost of capital, especially for the less financially credible countries. It appears, however, that the benefit of a lower cost of capital has also accrued to the three EU countries that did not adopt the euro.

Number of Pages in PDF File: 11

Accepted Paper Series


Date posted: February 9, 2005  

Suggested Citation

Askari, Hossein and Chatterjee, Joydeep, The Euro and Financial Market Integration. Journal of Common Market Studies, Vol. 43, No. 1, pp. 1-11, March 2005. Available at SSRN: http://ssrn.com/abstract=664126

Contact Information

Hossein Askari (Contact Author)
George Washington University - Department of International Business ( email )
2023 G Street NW
Washington, DC 20052
United States
Joydeep Chatterjee
University of Pennsylvania - Management Department ( email )
The Wharton School
Philadelphia, PA 19104-6370
United States
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