Internationalisation of Financial Markets: Some Implications for Macroeconomic Policy and for the Allocation of Capital

Organisation for Economic Co-operation and Development2026-04-11 收录

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This paper analyses the effects of the internationalisation of financial markets on the conduct of macroeconomic policy and the allocation of capital. It first examines the increased integration between domestic and external (or "Euro") financial markets and the recent tendency towards convergence of real interest rates among financially open...