Market Integration of Latin America (MILA): results of the operation of a single stock market and the impact on financial development.

Abstract

The EAEU (Eurasian Economic Union) has a possibility to create a single financial market in the near future. It is obvious that the degree of economic development of the EAEU countries differ from each other. Accordingly, in order to create a single financial market, these countries have to solve many problems, such as taking into account the interests of each side to prepare background, as well as to analyze the world examples of creating a single financial market. Because when we analyze the functioning integration unions, we can determine the effect of the integration on the financial development of the countries participating in the union. Therefore, as an example, the article analyzes the results of the functioning of a single Latin American stock market MILA (Chile, Colombia, Peru and Mexico). We’ve studied the effects of integration on the development of each participating country, and also revealed the advantages and disadvantages of the single market.