International Financial Integration: A Study of Interest Differentials between the Major Industrial Countries

by Richard C. Marston

Overview

This study examines the progress made in integrating the financial markets of the major industrial countries: Britain, France, Germany, Japan, and the United States. Professor Marston shows that deregulation and liberalization have succeeded to such an extent that interest rates in any single currency are nearly the same regardless of whether they are offered in national or Eurocurrency markets. The analysis examines returns in the money and bond markets of these countries, investigating whether there are systematic variations in relative returns across markets.

Product Details

ISBN-13:	9780521599375
Publisher:	Cambridge University Press
Publication date:	04/13/1997
Series:	Japan-US Center UFJ Bank Monographs on International Financial Markets , #1
Edition description:	REPRINT
Pages:	212
Product dimensions:	6.06(w) x 9.06(h) x 0.63(d)

Table of Contents

Preface; 1. Determinants of interest differentials: an introduction; 2. The deregulation of national markets; 3. Liberalization of national capital controls; 4. Nominal interest differentials; 5. Exchange rates and interest rates in the European monetary system; 6. Real interest differentials; 7. Progress towards international financial integration.