EU INTEGRATION

Financial Integration and Macroeconomic Stability in Europe

Coordinatore	Bilkent Üniversitesi    more  Organization address address: ESKISEHIR YOLU 8 KM city: ANKARA postcode: TR-06800 contact info Titolo: Prof. Nome: Fatma Cognome: Taskin Email: send email Telefono: 903123000000 Fax: 903123000000
Nazionalità Coordinatore	Turkey [TR]
Totale costo	100˙000 €
EC contributo	100˙000 €
Programma	FP7-PEOPLE Specific programme "People" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
Code Call	FP7-PEOPLE-2007-4-3-IRG
Funding Scheme	MC-IRG
Anno di inizio	2008
Periodo (anno-mese-giorno)	2008-03-01   -   2012-10-15

 Partecipanti

#	participant	country	role	EC contrib. [€]
1	Nome Ente NON disponibile  Organization address address: ESKISEHIR YOLU 8 KM city: ANKARA postcode: TR-06800 contact info Titolo: Prof. Nome: Fatma Cognome: Taskin Email: send email Telefono: 903123000000 Fax: 903123000000	TR (ANKARA)	coordinator	0.00

Mappa

 Word cloud

Esplora la "nuvola delle parole (Word Cloud) per avere un'idea di massima del progetto.

 Obiettivo del progetto (Objective)

'This project investigates the degree of financial integration among the EU member countries and the effect of this integration on economic growth and macroeconomic stability of Europe. Standard economics textbook treatment of international capital mobility is very clear on three main functions of integrated and efficient capital markets: 1) asset-price arbitrage ensures that people in different countries face same prices for a given asset; 2) people in different countries can share risks to their consumption; 3) new saving regardless of its origin is allocated towards the most productive investment opportunities. Researchers use these conditions to judge whether or not financial markets are integrated leaving the measurement of the extent of integration aside. In addition given the caveat that any of these conditions can break in a world of uncertainty, pooling countries and regions that are at different stages of development will not be appropriate for the purpose of investigating both the degree and the effects of financial integration. Dr. Kalemli-Ozcan developed a methodology with her collaborators to measure the extent of financial integration among regions of federations such as U.S. and Japan, during her last 7 years of research in the U.S. In this project she will focus on Europe. In the light of the institutional and cultural differences between Northern and Southern Europe, knowing the extent of financial integration, reasons behind the differences, and the effects on growth and macroeconomic stability has utmost importance for policy. Both the academicians and the policy makers still do not know how much integration EU has achieved, whether European capital market integration is associated with smaller or larger fluctuations within member countries, and also with higher growth. This proposal is expected to have an impact on the development of the right macroeconomic and financial policies both for the EU member and the accession countries.'