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The Incomplete European Market for Financial Services pp 129–154Cite as

How Integrated Are the European Retail Financial Markets? A Cointegration Analysis

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Part of the book series: ZEW Economic Studies ((ZEW,volume 19))

Abstract

There is a wide literature that tries to measure integration in financial markets. The results of these studies differ substantially. The predominant part of it is concerned with wholesale financial markets. Clearly, in the context of measuring integration the distinction between wholesale capital markets and retail financial markets becomes crucial. It appears that often this dichotomy between wholesale and retail financial markets is not sufficiently taken into account when assessing the degree of financial market integration.

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Author information

Authors and Affiliations

  1. Centre for European Economic Research (ZEW), Mannheim, Germany

    Martin Schüler & Friedrich Heinemann

Authors
  1. Martin Schüler
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  2. Friedrich Heinemann
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Editors and Affiliations

  1. Avenue de l’Yser 8, Brussels, 1040, Belgium

    Paolo Cecchini

  2. ZEW, L7, 1, Mannheim, 68161, Germany

    Friedrich Heinemann

  3. Institut für Europäische Politik, Bundesallee 22, Berlin, 10717, Germany

    Mathias Jopp

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Schüler, M., Heinemann, F. (2003). How Integrated Are the European Retail Financial Markets? A Cointegration Analysis. In: Cecchini, P., Heinemann, F., Jopp, M. (eds) The Incomplete European Market for Financial Services. ZEW Economic Studies, vol 19. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57364-4_6

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  • DOI: https://doi.org/10.1007/978-3-642-57364-4_6

  • Publisher Name: Physica, Heidelberg

  • Print ISBN: 978-3-7908-0013-5

  • Online ISBN: 978-3-642-57364-4

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