International interest rate convergence: a survey of the issues and evidence

Charles Pigott

Quarterly Review, 1993, vol. 18, issue Win, 24-37

Abstract: World financial markets have become substantially integrated over the last two decades. Contrary to widespread expectations, however, this integration has not led to any greater convergence of interest rates across countries. This article examines why convergence has not occurred and more generally what financial integration doesand does notmean for international interest rate relations.

Keywords: Interest rates; International finance (search for similar items in EconPapers)
Date: 1993
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