Exchange controls and European stock market integration

Patricia L. Chelley-Steeley, James M. Steeley, Eric J. Pentecost

Research output: Contribution to journalArticlepeer-review


This paper examines the impact on stock price predictability that the removal of exchange controls had on major European countries during the late 1970s and 1980s. It is found that for Germany, Switzerland and France, the removal of exchange controls led to an increase in the interdependence between these and other markets. In contrast, there is little evidence of an increase in interdependence for the UK and Italy.
Original languageEnglish
Pages (from-to)263-267
Number of pages5
JournalApplied Economics
Issue number2
Publication statusPublished - Feb 1998


  • stock price predictability
  • exchange controls
  • European countries


Dive into the research topics of 'Exchange controls and European stock market integration'. Together they form a unique fingerprint.

Cite this