European Financial Markets After EMU: A First Assessment

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

Cahiers de Recherches Economiques du Département d'économie from Université de Lausanne, Faculté des HEC, Département d’économie

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 changed the European financial landscape already drastically 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; european capital markets (search for similar items in EconPapers)
JEL-codes: E44 F21 F36 G15 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2000-02, Revised 2000-05
New Economics Papers: this item is included in nep-fmk, nep-his, nep-ias and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (55)

Published under the title "The Effect of EMU on Financial Markets: A First Assessment" in C. Wyplosz, ed, The Impact of EMU on Europe and the Developing Countries, Chapter 9, Oxford University Press, 2001

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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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Persistent link: https://EconPapers.repec.org/RePEc:lau:crdeep:00.03

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