Abstract (may include machine translation)
Within an international context, market integration studies are related - among others - to issues of the law of one price, dispersion of prices, pricing-to-market, and purchasing power parity. The most important conclusion one can draw from this work is that some types of friction provide considerable barriers to the integration of markets within a nation as well as across nations. A number of studies found that the speed of price convergence depends upon geographical distance, information costs, good and location specifics, currency fluctuations and national political borders.
Original language | English |
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Title of host publication | Financial Market Integration and Growth |
Subtitle of host publication | Structural Change and Economic Dynamics in the European Union |
Editors | Paul J.J. Welfens, Cillian Ryan |
Publisher | Springer Berlin Heidelberg |
Pages | 311-337 |
Number of pages | 27 |
ISBN (Electronic) | 9783642162749 |
ISBN (Print) | 9783642162732, 9783642423659 |
DOIs | |
State | Published - 2011 |