European Financial Markets After EMU: A First Assessment

Francesco Giavazzi (), Jean-Pierre Danthine and Ernst-Ludwig von Thadden

No 2413, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either already drastically changed the European financial landscape or has the potential to do so in the future. We argue that this is less due to the well-known direct effects of EMU, such as the elimination of intra-European currency risk, than to a number of indirect consequences through feedback mechanisms that seem to have been triggered by EMU.

Keywords: European monetary union; Financial markets; market integration (search for similar items in EconPapers)
JEL-codes: E44 F21 F36 G15 (search for similar items in EconPapers)
Date: 2000-04
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Citations: View citations in EconPapers (70)

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Related works:
Working Paper: European Financial Markets After EMU: A First Assessment (2000)
Working Paper: European Financial Markets After EMU: A First Assessment (2000)
Working Paper: European Financial Markets After EMU: A First Assessment (2000)
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