Euro-currency Markets and their Control

  • David T. Llewellyn
Part of the Problems in Economic Integration book series


A substantial proportion of international capital movements takes place through the euro-currency markets, and from time to time policy-makers contemplate direct policy measures to limit the role and power of the markets to contribute to international capital movements. Such measures envisage restricting the institutions which create the markets rather than altering the fundamental forces making for international capital transfers. Implicit in the argument must be the notion that the markets add to the volume of world credit and capital movements compared with what would be the case if the markets did not exist. If, on the other hand, the euro-currency markets are simply alternative mechanisms or channels for credit creation and capital movements that would occur in some other way, control of the markets would have little rationale.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Selected Bibliography

  1. Bell, G. L. (1973) The EuroDollar Market and the International Financial System (London: Macmillan).Google Scholar
  2. Brown, B. (1978) Money, Hard and Soft (London: Macmillan).Google Scholar
  3. Clendenning, E. W. (1970) The Euro Dollar Market (Oxford: Clarendon Press).Google Scholar
  4. Dufey, G., and Giddy, I. (1978) The International Money Market (Englewood Cliffs, N.J.: Prentice-Hall, 1978) pp. 48–77.Google Scholar
  5. Einzig, P., and Quinn, B. S. (1977) The EuroDollar System (London: Macmillan).Google Scholar
  6. Giddy, I. H., and Dufey, G. and Min, S. (1975) ‘Interest Rates in the U.S. and Euro Dollar Markets’, Weltwirtschaftliches Archiv, pp. 51–68.Google Scholar
  7. Johnston, R. B. (1979) ‘Some Aspects of the Determination of Euro Currency Interest Rates’, Bank of England Quarterly Bulletin, Mar 1979.Google Scholar
  8. Hewson, J., and Sakakibara, E. (1974) ‘Euro Dollar Multiplier: A Portfolio Approach’, IMF Staff Papers, July 1974.Google Scholar
  9. Klopstock, F. (1968) The Euro Dollar Market: Some Unresolved Issues, Essays in International Finance, No. 65 (Princeton University Press).Google Scholar
  10. Llewellyn, D. T. (1979) ‘Do Building Societies take Deposits from Banks?’, Lloyds Bank Review, Jan 1979.Google Scholar
  11. Mayer, H. (1976) ‘The BIS Concept of the Eurocurrency Market’, Euromoney, May 1976.Google Scholar
  12. McKenzie, G. W. (1976) Economics of the Euro Currency System (London: Macmillan).Google Scholar
  13. McKinnon, R. I. The Euro Currency Market, Essays in International Finance, No. 125 (Princeton University Press).Google Scholar
  14. Stem, C. M., et al. (1976) Eurocurrencies and the International Monetary System (Washington: American Enterprise Institute for Public Policy Research).Google Scholar
  15. Swoboda, A. K. (1968) The Euro Dollar Market: An Interpretation, Essays in International Finance, No. 64 (Princeton University Press).Google Scholar
  16. Willms, M. (1978) ‘Money Creation in the Euro Currency Market’, Weltwirtschafliches Archiv, pp. 201–30.Google Scholar

Copyright information

© David T. Llewellyn 1980

Authors and Affiliations

  • David T. Llewellyn
    • 1
  1. 1.Loughborough UniversityUK

Personalised recommendations