(2003): “Benefits and Costs of International Financial Integration: Theory and Facts.” World Economy, Vol.
” Journal of International Financial Markets, Institutions and Money, Vol.
BLANCO (2000): “Has Financial Market Integration Increased during the Nineties?
MATTHEWS (2002): “Financial Integration and the ASEAN-5 Equity Markets.” Applied Economics, Vol.
We find evidence of stock market integration on both the national and sectoral levels between the Czech Republic, Hungary, Poland and the euro area.
The paper considers the empirical dimension of financial integration among stock markets in four new European Union member states (the Czech Republic, Hungary, Poland and Slovakia) in comparison with the euro area.
The main objective is to test for the existence and determine the degree of the four states’ financial integration relative to the euro currency union. PAGANO (2002): “Analyse, Compare, and Apply Alternative Indicators and Monitoring Methodologies to Measure the Evolution of Capital Market Integration in the European Union”.