The aim of the article is to analyse money market integration in the euro area using quantitative methods. In the initial part the main terms are defined and the research methods are explained. Then, previous publications of other authors are reviewed. The analysis of the euro area money market integration follows, covering its main three segments: unsecured deposits, repo transactions and short-term debt securities. Integration indicators from all three groups specified in the literature are used: price-based, quantity-based and institutional. Among them are instruments already used in other publications and indicators developed by the author. In the following part, main obstacles to integration are outlined, as well as prospects of overcoming them. The concluding part contains synthetic assessment of the euro area money market integration and further research proposals.

Keywords: money market, financial integration, integration indicators, euro area
JEL: E44, F36, G15

  Tomasz Bernhard - Money Market Integration in the Euro Area - plik pdf; (822 KB)