. "978-0-415-69076-8" . "32"^^ . "financial integration, financial markets, European Union, euro area"@en . . "3"^^ . "Stav\u00E1rek, Daniel" . . "3"^^ . "RIV/47813059:19520/12:#0001765" . "\u0158epkov\u00E1, Iveta" . "174226" . "264"^^ . . "RIV/47813059:19520/12:#0001765!RIV13-MSM-19520___" . . "Abingdon" . . . "Theory of financial integration and achievements in the European Union" . . "[2917E66F459A]" . . "Theory of financial integration and achievements in the European Union"@en . "19520" . "S" . "Theory of financial integration and achievements in the European Union" . . "This chapter discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and drawbacks. More opportunities for risk sharing and diversification, better allocation of capital among investment opportunities, and potential for higher economic growth were identified as the crucial benefits of financial integration. By contrast, we consider increased vulnerability to external macroeconomic shocks and financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration. The chapter also summarizes the progress in financial integration that has been achieved in individual segments of the European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds markets. The remaining financial markets are still rather fragmented." . . . . "Theory of financial integration and achievements in the European Union"@en . . . . "Financial Integration in the European Union." . . . "This chapter discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and drawbacks. More opportunities for risk sharing and diversification, better allocation of capital among investment opportunities, and potential for higher economic growth were identified as the crucial benefits of financial integration. By contrast, we consider increased vulnerability to external macroeconomic shocks and financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration. The chapter also summarizes the progress in financial integration that has been achieved in individual segments of the European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds markets. The remaining financial markets are still rather fragmented."@en . "Routledge" . "Gajdo\u0161ov\u00E1, Katar\u00EDna" .