This book introduces readers to the world of international financial markets and their integration on a global and regional scale. The author presents the theoretical and practical issues concerning the processes of financial market integration, with a particular focus on the monetary union.
The empirical research results are based on econometric modeling, thus simplifying them for a non-specialist audience, who can instead concentrate on the author’s conclusions, which comprise the results of these complicated research methods. The author outlines the role and functions of financial markets in the economy, in particular the relationship between financial intermediaries and financial markets and tackles the question of integration of new EU member countries’ financial markets within the eurozone. The integration of financial markets in an international context is inevitable, and the author argues that we must learn how to benefit from it from in terms of economic growth.
This book will be a valuable resource for students of economics and finance, particularly those studying financial management and international business and finance, as well as professionals in these fields. Further, this book will be of interest to anyone looking to discover more about the problems of globalization and the integration of financial markets into the modern economy.
Table of Contents
List of figures. List of tables. Preface.
1. The role and functions of financial markets in economy 2. Integration of financial markets on an international scale 3. The role of financial market integration in the monetary union 4. The measures of financial market integration on international scale 5. What are the degrees of financial market integration within the EMU? 6. Is the integration of financial markets one of the necessary criteria of advantageous monetary integration? (The case of equity markets in Slovenia and Slovakia) 7. Financial market integration of the potential candidate countries to the EMU with euro area financial markets (case study: equity markets).
Slawomir Ireneusz Bukowski, PhD, is Full Professor of Economics and Finance, First Vice Rector and Head of the Department of International Business & Finance at Kazimierz Pułaski University of Technology and Humanities in Radom, Poland. He is the former CEO of the consulting firm B&C Economic and Legal Services Ltd in Radom and the author of more than 190 scientific publications (among others – the author of six books and numerous papers in English, Polish and Russian and an editor of seven books), the author and coauthor of 150 scientific reports and expert opinions for business and a lecturer in several universities across the globe. He is also a member of the following societies: Polish Economic Society, The Society of Polish Economists, Polish Society of Banking & Finance, IAES- International Atlantic Economic Society, American Economic Association, Society for the Study of Emerging Markets, Association for Comparative Economic Studies.