THE EUROBOND AND CAPITAL MARKET INTEGRATION.

The Eurobond is an international security floated and traded in an international market. It is consequently natural to inquire into the potency and limitation of the Eurobond market as an integrative force on the financial scene. This paper does so. The Eurobond market and its relation to the Eurodollar market are described briefly in parts I and II respectively. Part III examines the confluence of yields. The limitations of integration are appraised in the two sections that follow. The first of these deals with legal impediments to integration, and the second with the structural character of the securities industry which impede it. [ABSTRACT FROM AUTHOR]