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European financial integration and global financial liberalization

European financial integration and global financial liberalization We generally admit markets are integrated if the law of one price is verified. This approach, applied to financial markets, gives place to two complementary criteria allowing the measurement of integration intensity. The first refers to mobility, meaning the possibility offered to national investors to move their assets over the borders so as to place their investments wherever they wish. The second concerns assets substitutability, meaning the possibility offered to national investors to rearrange their securities portfolio by substituting the national assets for foreign assets and vice versa, following a change in their rate of return. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Advances in Management Research Emerald Publishing

European financial integration and global financial liberalization

Journal of Advances in Management Research , Volume 5 (1): 3 – Jan 1, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
0972-7981
DOI
10.1108/97279810880001270
Publisher site
See Article on Publisher Site

Abstract

We generally admit markets are integrated if the law of one price is verified. This approach, applied to financial markets, gives place to two complementary criteria allowing the measurement of integration intensity. The first refers to mobility, meaning the possibility offered to national investors to move their assets over the borders so as to place their investments wherever they wish. The second concerns assets substitutability, meaning the possibility offered to national investors to rearrange their securities portfolio by substituting the national assets for foreign assets and vice versa, following a change in their rate of return.

Journal

Journal of Advances in Management ResearchEmerald Publishing

Published: Jan 1, 2008

Keywords: Financial integration; Financial liberalization

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