International Capital Movements and the Integration of Capital Markets (Main Paper, Working Group E)

Peter Kenen

Chapter 8 in Economic Integration: Worldwide, Regional, Sectoral, 1976, pp 187-217 from Palgrave Macmillan

Abstract: Abstract Because we are to look at capital mobility and the integration of capital markets, I propose to emphasise dimensions of mobility that find their expression in organised markets — international transfers of instruments like stocks and bonds. I shall not say much about transfers of titles to real property or, at the opposite end of the spectrum, transfers of money in currency markets. In other words, I shall neglect direct investment and, with more serious misgivings, the problems of monetary integration posed by alternative exchange-rate regimes.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Central Bank; Capital Mobility (search for similar items in EconPapers)
Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-02571-8_9

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DOI: 10.1007/978-1-349-02571-8_9

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