Measuring European Financial Integration. Indicators and Perspectives

Abstract

The process of financial integration stimulates the development of the European financial system by influencing in a positive sense the competition, stability, expanding markets and influencing the efficiency of financial intermediaries, resulting in lower brokerage costs and a more efficient allocation of capital. A challenge for both researchers and policymakers is measuring the level of financial integration in order to assess the impact of the factors through which European financial integration has influenced economic growth and thus implement a range of policies with the goal of a sustainable economic growth.

Keywords

• financial integration
• measurement