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The Euro, Capital Markets, and Dollarization describes the economic and capital market results of the institution of the single currency, the euro, in Europe after January 2000. This startling event appears to foreshadow increased capital market efficiency, increased labor migration, massive cross-border mergers, the eastward spread of the monetary union, and the division of the world into currency blocs.
Edward B. Flowers is professor of economics and finance at St. John's University in New York. Francis A. Lees is Theis Professor of Global Finance at St. John's University.
Chapter 1 List of TablesChapter 2 List of AcronymsChapter 3 PrefaceChapter 4 The Road to EuroChapter 5 Resource Mobility in a Suboptimal Currency AreaChapter 6 Macroeconomic EnvironmentChapter 7 The European Central Bank and Role of the EuroChapter 8 Capital Markets in the EurozoneChapter 9 Bond Market DevelopmentChapter 10 European Equity MarketsChapter 11 Dollarization: Extending the Single Currency ConceptChapter 12 The European Union and Eurozone ExpansionChapter 13 Index