Economic Integration and Financial Stability: A European Perspective, Issues 2006-2296

Front Cover
International Monetary Fund, 2006 - Electronic books - 28 pages
0 Reviews
This paper assesses changes in synchronization of real activity and financial market integration in Western Europe and evaluates their implications for financial stability. We find increased synchronization of real activity since the early 1980s and increased equity markets integration since the early 1990s. We also find that measures of systemic risk at large European financial institutions have not declined during the period 1990-2004 and that bank systemic risk profiles have converged. At the same time, the sensitivity of bank and insurance systemic risk measures to common real and financial shocks has increased in most countries. Overall, these results suggest that the integration process does not necessarily entail an unambiguously positive effect on financial stability.

From inside the book

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Introduction
3
Systemic Risk and Integration
9
References
16
Copyright

1 other sections not shown

Other editions - View all

Common terms and phrases

Bibliographic information