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The euro and capital market integration: are we there yet?

The euro and capital market integration: are we there yet? Assesses the effect of the introduction of the euro on capital markets, noting “explosive growth” in the corporate bond market and a rising demand for junk bonds. Believes that equities are funamentally strong, although foreign investors have suffered from falling euro values, and sees some signs that investors within the eurozone are diversifying away from their home markets. Gives statistics on the growth in derivatives trading, splitting it by types of contract; and considers why the consolidation of stock and futures exchanges has been slower than expected. Discusses the implications of capital m arket unification for investment allocation and expects an increasing emphasis on sector analysis as national stock indices coverage; but points out that country factors, e.g. fiscal reforms, still remain. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Finance Emerald Publishing

The euro and capital market integration: are we there yet?

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References (4)

Publisher
Emerald Publishing
Copyright
© MCB UP Limited
ISSN
0307-4358
DOI
10.1108/03074350110767394
Publisher site
See Article on Publisher Site

Abstract

Assesses the effect of the introduction of the euro on capital markets, noting “explosive growth” in the corporate bond market and a rising demand for junk bonds. Believes that equities are funamentally strong, although foreign investors have suffered from falling euro values, and sees some signs that investors within the eurozone are diversifying away from their home markets. Gives statistics on the growth in derivatives trading, splitting it by types of contract; and considers why the consolidation of stock and futures exchanges has been slower than expected. Discusses the implications of capital m arket unification for investment allocation and expects an increasing emphasis on sector analysis as national stock indices coverage; but points out that country factors, e.g. fiscal reforms, still remain.

Journal

Managerial FinanceEmerald Publishing

Published: Sep 1, 2001

Keywords: Capital markets; Bonds; Shares; Derivatives; Diversification; Europe

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