Naslov
The analysis of the financial integration and monetary system in the E(M)U

Autori
Bilas, Vlatka ; Franc, Sanja

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Book of Abstract, Business & Economics Society International Conference / - , 2007

Skup
Business & Economics Society International Conference

Mjesto i datum
Antibes, Francuska, 16.07.2007. - 20.07.2007

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
monetary system; financial integration; EU

Sažetak
The recent literature on financial integration of the EMU finds that an efficient and integrated financial market has a great impact on the union’ s economic growth. The integration of the financial markets of member countries has been an economic policy objective of the EU since the late 1960s. Considering that the monetary policy is implemented through the financial system, it is required that this system works as effectively as possible. This paper studies the organization and tasks of the European Central Bank as the institution responsible for the creation and implementation of the monetary policy in EMU. In addition we analyze possible channels of financial integration as well as the indicators of integration on various financial markets. By analyzing different indicators, our findings are that the money market within the E(M)U has the highest level of financial integration. The bond market also reaches high levels of financial integration, while the stock market is lagging behind, but the trend shows that in time this integration will grow stronger.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA