The Evolution of European Capital Markets, 1958–70
Despite what may appear to be a somewhat dispiriting picture which has been painted in the introduction to this Part, one should not imagine that no Community capital market centre has evolved. At times one seems to be mesmerised by the existence of the Euro-dollar market which tends to make people forget that in 1968–9 West Germany was the world leader in the export of capital, and that in 1968, 35 per cent of all loans in the Euro-capital market were denominated in Deutsche Marks. In 1969 this figure had risen to 45 per cent.
KeywordsCapital Market Capital Inflow Capital Movement Payment Surplus Capital Centre
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