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Monetary Integration Between Economies with Different Financial Structures

Stefan Collignon ()

Working Papers from American Institute for Contemporary German Studies-

Abstract: Today, a variety of financial systems exists in Europe. In view of EMU the question then arises what kind of "institutional convergence" may be required to enable the future European System of Central Banks (ESCB) to function efficiently. With respect to payment systems and settlement assets the paper points out that even if a variety of payment instruments may continue to exist the functional convergence will be assured by EMU.

Keywords: ECONOMIC INTEGRATION; MONETARY UNION; CENTRAL BANKS; FINANCIAL POLICY; EUROPE (search for similar items in EconPapers)
JEL-codes: F33 E58 F15 (search for similar items in EconPapers)
Date: 1997
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Persistent link: http://EconPapers.repec.org/RePEc:fth:amiger:23

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