This study explores two of the main issues of global financial processes: the economic essence of the benefits gained from the increased liberalisation of international capital flow, and the issue of “adequate” exchange rate systems as closely aligned with the increased international capital...

The deepening of European integration has been expected to trigger constant adjustments in Member States since the start, especially with regard to the harmonisation of development of their national institutions. Our empirical analysis of Member State-level governance found, however, that such...