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First paragraph: The role of money and financial markets in the regional economy has been attracting increasing attention in recent years. It has been a topic of interest for longer in the US literature, reflecting the regional concerns of a federal state. But now European financial integration and more general political changes have raised the importance of the topic for Europe. The relevant literature is now sufficiently large and diverse that a survey is warranted.
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Dow et al. (1997) studied this question.
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