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Within the borders of the European Union, the regulations regarding the integration of the capital market is a process that started at the beginning of the 1970s and continues in the present. It is very important to enable Turkey's integration smoothly to this process both for Turkey's and the EU's economy. Within this context, in the first part of the study, international political economy theories and current theoretical studies regarding the EU integration have been examined. In the subsequent section, definition of the financial integration and both the benefits and damages of the integration to the countries have been covered. In the last section, the financial market in Turkey has been explained and the regulations that were made in the process of integrating with the EU markets have been covered briefly. [ABSTRACT FROM AUTHOR]

Since the 1990s, the increase of connections between global markets is accelerating financial globalization. The liberalization of finance and capital markets with developments in information and communication technologies increases the importance of capital flows. Although the most part of capital flows concentrate in developed countries, many developing countries have started to become the important centers for capital flows. Since the collapse of the communist system, there has been seen an increase in capital flows in transition countries. In this study, the effect of financial globalization on the development of financial sector in South East Europe Countries (Albania, Bulgaria, Croatia, Macedonia and Romania) will be analyzed. It is found that financial globalizatian has positive effects on the development of South East Europe in terms of the depth, structure and efficiency of the financial sector. [ABSTRACT FROM AUTHOR]