Exchange controls and European stock market integration

Patricia Chelley-Steeley, James Steeley and Eric Pentecost

Applied Economics, 1998, vol. 30, issue 2, 263-267

Abstract: This paper examines the impact on stock price predictability that the removal of exchange controls had on major European countries during the late 1970s and 1980s. It is found that for Germany, Switzerland and France, the removal of exchange controls led to an increase in the interdependence between these and other markets. In contrast, there is little evidence of an increase in interdependence for the UK and Italy.

Date: 1998
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DOI: 10.1080/000368498326056

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