scholarly journals Capital Market Integration in Euroland: The Role of Banks

2000 ◽  
Vol 1 (4) ◽  
pp. 443-464 ◽  
Author(s):  
Claudia M. Buch
Keyword(s):  
Financial Market ◽  
Risk Taking ◽  
Capital Market ◽  
Market Integration ◽  
Home Bias ◽  
Capital Market Integration ◽  
Clear Cut ◽  
Cross Border ◽  
Financial Market Integration

Abstract The introduction of the euro marks a milestone in the process of European financial market integration. This paper analyzes the implications of the euro for cross-border banking activities. A portfolio model is used which captures the role of banks as providers of informational and of risk-diversification services. By eliminating exchange rate risks, the euro enhances the incentives of banks to expand within Euroland. Yet, while the currency bias in bank portfolios will be eliminated, the home bias will remain. Implications of market integration for the risk-taking and the monitoring of banks are not clear-cut.

scholarly journals Capital Market Integration In Some Asean Countries Revisited

2018 ◽  
Vol 22 (2) ◽  
pp. 205 ◽  
Author(s):  
Robiyanto Robiyanto
Keyword(s):  
Financial Crisis ◽  
Financial Market ◽  
Capital Markets ◽  
Capital Market ◽  
Market Integration ◽  
Global Financial Crisis ◽  
Asian Financial Crisis ◽  
Capital Market Integration ◽  
Financial Market Integration ◽  
Asean Countries

Financial market integration in Southern Asia especially in ASEAN main member countries still attractive to scrunitized. Most of these countries were devastated during severe regional financial crisis in 1997 but global financial crisis in 2008 have different impact toward these countries. The finding shows that comovement were exist among Indonesia, Malaysia, Singapore and Thailand’s capital market during January 1997 to December 2013 period. Comovement still exist during post Asian financial Crisis 1997 and post global financial crisis 2008 period. This study conclude also that degree of integration between some ASEAN capital markets have fading out after global financial crisis in 2008. Hence, investor could formulate a portfolio which consist of stocks across ASEAN capital markets.

scholarly journals Capital market integration in Spain? Introducing the Bilbao Stock Exchange, 1891-1936

2010 ◽  
Vol 28 (3) ◽  
pp. 535-573 ◽  
Author(s):  
Stefan Houpt ◽  
Juan Carlos Rojo Cagigal
Keyword(s):  
Financial Market ◽  
Capital Market ◽  
Public Debt ◽  
Spanish Civil War ◽  
Market Integration ◽  
Stock Exchange ◽  
Strong Support ◽  
Capital Market Integration ◽  
Financial Market Integration ◽  
First Results

AbstractThis paper presents the first results of our most recent research on the Bilbao Stock Exchange (BSE) from its foundation in 1890 up to the Spanish Civil War. We examine the origin of the Exchange and follow its evolution over the first half-century of existence. To this end we introduce some of the stock exchange indexes we have calculated for Bilbao and put them into comparative perspective with the existing series on general economic and industrial activity and the indexes for other Spanish exchanges for the period considered. These comparisons show Bilbao’s evolution from a public debt-dominated market to an industrial exchange very much tied to regional development. Finally, we contrast the degree of financial market integration associated with the existing Spanish exchange indexes. Our analysis finds strong support for considering the BSE index as an industrial index and little evidence of capital market integration between the principal Spanish exchanges before the 1920s.

scholarly journals Dating Capital Market Integration In The EMU

2011 ◽  
Vol 10 (3) ◽  
pp. 63
Author(s):  
Sergiy Rakhmayil
Keyword(s):  
Asset Pricing ◽  
Financial Market ◽  
Capital Market ◽  
Market Integration ◽  
Structural Breaks ◽  
Capital Market Integration ◽  
Market Variables

This paper analyzes the effect of the Euro on structural breaks in financial market variables in a sample of three EMU (France, Germany, Netherlands) and two non-EMU (U.K. and Switzerland) countries from March 1984 to November 2002. We identify two dates when integration-related structural breaks occurred in European asset pricing; the first in 1986 affected all sample countries whereas the second in 2000 affected only the EMU countries and could be attributed to the adoption of Euro in 1999.

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