Financial Integration In Europe

Author : Mr.Charles Enoch,Mr.Luc Everaert,Mr.Thierry Tressel,Ms.Jianping Zhou
Publisher : International Monetary Fund
Page : 524 pages
File Size : 44,8 Mb
Release : 2013-12-11
Category : Business & Economics
ISBN : 9781484387665

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From Fragmentation to Financial Integration in Europe by Mr.Charles Enoch,Mr.Luc Everaert,Mr.Thierry Tressel,Ms.Jianping Zhou Pdf

From Fragmentation to Financial Integration in Europe is a comprehensive study of the European Union financial system. It provides an overview of the issues central to securing a safer financial system for the European Union and looks at the responses to the global financial crisis, both at the macro level—the pendulum of financial integration and fragmentation—and at the micro level—the institutional reforms that are taking place to address the crisis. The emerging financial sector management infrastructure, including the proposed Single Supervisory Mechanism and other elements of a banking union for the euro area, are also discussed in detail.

Author : Richard Pomfret
Publisher : Harvard University Press
Page : 273 pages
File Size : 54,5 Mb
Release : 2021-06-08
Category : Business & Economics
ISBN : 9780674259430

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The Economic Integration of Europe by Richard Pomfret Pdf

The clearest and most up-to-date account of the achievements—and setbacks—of the European Union since 1945. Europe has been transformed since the Second World War. No longer a checkerboard of entirely sovereign states, the continent has become the largest single-market area in the world, with most of its members ceding certain economic and political powers to the central government of the European Union. This shift is the product of world-historical change, but the process is not well understood. The changes came in fits and starts. There was no single blueprint for reform; rather, the EU is the result of endless political turmoil and dazzling bureaucratic gymnastics. As Brexit demonstrates, there are occasional steps backward, too. Cutting through the complexity, Richard Pomfret presents a uniquely clear and comprehensive analysis of an incredible achievement in economic cooperation. The Economic Integration of Europe follows all the major steps in the creation of the single market since the postwar establishment of the European Coal and Steel Community. Pomfret identifies four stages of development: the creation of a customs union, the deepening of economic union with the Single Market, the years of monetary union and eastward expansion, and, finally, problems of consolidation. Throughout, he details the economic benefits, costs, and controversies associated with each step in the evolution of the EU. What lies ahead? Pomfret concludes that, for all its problems, Europe has grown more prosperous from integration and is likely to increase its power on the global stage.

Author : Étienne Sadi Kirschen,Henry Simon Bloch,William Bruce Bassett
Publisher : Unknown
Page : 176 pages
File Size : 40,5 Mb
Release : 1969
Category : Finance
ISBN : UCAL:B3376821

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Financial Integration in Western Europe by Étienne Sadi Kirschen,Henry Simon Bloch,William Bruce Bassett Pdf

A study sponsored jointly by the School of International Affairs, Columbia University, and the Institute of Applied Economics, Université libre of Brussels. Bibliographical footnotes.

Author : Jonathan Story,Ingo Walter
Publisher : Manchester University Press
Page : 356 pages
File Size : 44,6 Mb
Release : 1997
Category : European Union countries
ISBN : 0719043131

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Political Economy of Financial Integration in Europe by Jonathan Story,Ingo Walter Pdf

This volume traces the political, financial and economic steps towards financial union in Europe, focusing on the political economy of the process - notably the dynamics of a Europe of sovereign states.

Author : Roman Matoušek,Daniel Stavárek
Publisher : Routledge
Page : 281 pages
File Size : 47,9 Mb
Release : 2012-03-15
Category : Business & Economics
ISBN : 9781136339707

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Financial Integration in the European Union by Roman Matoušek,Daniel Stavárek Pdf

This edited collection assesses the level of financial integration in the European Union (EU) and the differences across the countries and segments of the EU financial system. Progress in financial integration is key to the EU’s economic growth and competitiveness and although it has advanced substantially, the process is still far from completion. This book focuses on the pace of financial integration in the EU with special emphasis on the new EU Member States and investigates their progress in comparison with ‘old’ EU countries. The book is the first of its kind to include and evaluate the effects of the global financial crisis on the process of EU financial integration. In particular, the book’s contributors address the issue of whether a high degree of financial integration contributed to the intensification of the financial crisis, or whether a low level of integration prevented countries and financial industries from some of the negative effects of the crisis. Although most of the chapters apply contemporary econometric tools, the technical part is always reduced to indispensable minimum and the emphasis is given to economic interpretation of the results. The book aims to offer an up to date and insightful examination of the process of financial integration in the EU today.

Author : Harald A. Benink
Publisher : Springer Science & Business Media
Page : 212 pages
File Size : 54,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401118385

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Financial Integration in Europe by Harald A. Benink Pdf

One of the key issues relating to the perfonnance of national economies is the efficiency of the financial system which stands at the heart of the capital-allocation process. There are two aspects which define efficiency. Static efficiency involves the ali-in difference between rates of return provided to ultimate savers and the cost of funds to users. This 'gap', or spread, reflects the direct costs of production (operating and administrative costs, cost of capital, etc.). It also reflects losses incurred in the financial process, as well as any monopoly profits earned and liquidity premiums. Financial processes that are considered 'statically inefficient' are usually characterised by high 'spreads' due to high overhead costs, high losses, barriers to entry, and the like. Dynamic efficiency is characterised by high rates of financial product and process innovation through time. Successful product and process innovation broadens the menu of financial products available to ultimate issuers, ultimate savers, or other agents along the various financial process channels described above. Probably the most powerful catalyst affecting the competitive dynamics of the financial services industry has been technological change.

Author : Mr.Jörg Decressin,Mr.Wim Fonteyne,Mr.Hamid Faruqee
Publisher : International Monetary Fund
Page : 281 pages
File Size : 43,9 Mb
Release : 2007-09-12
Category : Business & Economics
ISBN : 9781589066236

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Integrating Europe's Financial Markets by Mr.Jörg Decressin,Mr.Wim Fonteyne,Mr.Hamid Faruqee Pdf

By and large, EU financial integration has been a success story. Still, the reform agenda is far from finished. What are the remaining challenges? What are the gains of closer financial market integration? This IMF book tracks the European Union's journey along the path to a single financial market and identifies the challenges and priorities that remain ahead. It pays particular attention to the most recent integration efforts in the European Union following the introduction of the euro. The study looks at the importance of financial integration, in particular for economic growth, the interplay between banks and markets, and equity market integration. It closely examines the relationship between financial integration and financial stability. This interaction presents the European Union with a challenge, but also with the opportunity to play a pioneering role in developing a regional approach to financial stability that could provide lessons for the rest of the world.

Author : Paul J.J. Welfens,Cillian Ryan
Publisher : Springer Science & Business Media
Page : 387 pages
File Size : 45,5 Mb
Release : 2011-02-14
Category : Business & Economics
ISBN : 9783642162749

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Financial Market Integration and Growth by Paul J.J. Welfens,Cillian Ryan Pdf

Financial capital, whether mediated through the financial market or Foreign Direct Investment has been a key factor in European economic growth. This book examines the interaction between European and global financial integration and analyses the dynamics of the monetary sector and the real economy in Europe. The key analytical focus is on the theoretical and empirical dynamics of financial markets in Europe, however, it also provides regional case studies of key institutional developments and lessons from foreign direct investment. There is a broad range of findings for Central, Eastern and Western Europe as well as EU Partner Countries. Crucially the analysis includes new approaches and options for solving the transatlantic banking crisis and suggests policy innovations for a world with unstable financial markets.

Author : Alberto Giovannini,Colin Mayer,Centre for Economic Policy Research (Great Britain),Istituto mobiliare italiano
Publisher : Cambridge University Press
Page : 380 pages
File Size : 40,6 Mb
Release : 1991
Category : Business & Economics
ISBN : 0521428904

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European Financial Integration by Alberto Giovannini,Colin Mayer,Centre for Economic Policy Research (Great Britain),Istituto mobiliare italiano Pdf

Leading international experts examine the implications of integration for the monetary structure of the European community.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,6 Mb
Release : 2018
Category : Electronic
ISBN : OCLC:1282832061

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Financial Integration in EUrope by Anonim Pdf

Author : Michelle Egan
Publisher : OUP Oxford
Page : 300 pages
File Size : 42,5 Mb
Release : 2015-01-22
Category : Political Science
ISBN : 9780191045707

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Single Markets by Michelle Egan Pdf

This timely book provides in-depth analytical comparison of the nineteenth century evolution of the American single market with corresponding political, economic, and social developments in post-WWII European efforts to create a single European market. Building the regulatory framework needed for successful adoption of an integrated single market across diverse political units represents one of the most important issues in comparative political economy. What accounts for the political success or failure in creating integrated markets in their respective territories? When social discontent threatens market integration with populist backlash, what must be done to create political support and greater legitimacy? Single Markets focuses on the creation of integrated economies, in which the United States and European Union experienced sharply contested ideas about the operation of their respective markets, conflict over the allocation of institutional authority, and pressure from competing political, economic, and social forces over the role and consequences of increased competition. Drawing upon four case studies, the book highlights the contestation surrounding the US and EUs efforts to create common currencies, expand their borders and territories, and deal with the pressures of populist parties, regional interests and varied fiscal and economic challenges. Theoretically, the book draws on work in European integration and American Political Development (APD) to illustrate that the consolidation of markets in the US and EU took place in conjunction with the expansion of state regulatory power and pressure for democratic reform. Single Markets situates the consolidation of single markets in the US and EU in a broader comparative context that draws on research in economics, public administration, political science, law, and history.

Author : Diego Valiante
Publisher : Centre for European Policy Studies
Page : 0 pages
File Size : 46,7 Mb
Release : 2016
Category : Capital market
ISBN : 1786600447

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Europe's Untapped Capital Market by Diego Valiante Pdf

This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital mar...

Author : Lars Oxelheim
Publisher : Springer Science & Business Media
Page : 404 pages
File Size : 52,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642612930

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International Financial Integration by Lars Oxelheim Pdf

There is widespread agreement in the current social and economic debate that the nations of the world are becoming increasingly integrated. Many structural signs in society also suggest that this is so. Integration has become a catchword in the prepara tions for the internal market of the EC, and a keynote in the debate about association for the European countries which do not belong to the Community. But when we turn to the question of how this integration should be measured, there is very little con sensus. Instead there are numerous problems, not only about how to measure integra tion but even about how to define it. In this book I shall discuss the import and implications of a particular type of integration, namely financial integration, and then look at the most important problems connected with measuring it. In the empirical investigation reported below I felt the need for an integrated micro-macro approach. Further, I decided to illustrate the measurement problems by studying a small and relatively open economy where exchange controls have been imposed by the government in an attempt to reduce the flow of interest-sensitive capital out of the country, and thus to acquire autonomy for the national monetary policy. An interview study has been carried out with a view to illustrating among other things how expectations are formed among the major actors on the financial market, and this provided additional input for an analysis of the level of financial integration.

Author : European Central Bank
Publisher : Unknown
Page : 26 pages
File Size : 55,9 Mb
Release : 1998
Category : Clearing of securities
ISBN : IND:30000061570374

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Correspondent Central Banking Model (CCBM) by European Central Bank Pdf

Author : Pierre van der Haegen
Publisher : Taylor & Francis
Page : 536 pages
File Size : 47,8 Mb
Release : 2019-10-28
Category : Business & Economics
ISBN : 9781351150477

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Regional Integration in Europe and Latin America by Pierre van der Haegen Pdf

Originally published in 2004. This comprehensive collection provides an innovative analysis and a comparison between economic and financial integration in Europe and Latin America, addressed from a global, regional and country-specific perspective. It constitutes a valuable overview focusing on three topics: regional integration and monetary cooperation in Europe and Latin America, exchange rate strategies and financial sector structure. The collection is the outcome of a Workshop and high-level Seminar organized by the Banco de España and the European Central Bank that brought together senior European and Latin American central bankers, as well as senior representatives from international institutions. The 31 contributors presented high quality papers, allowing the reader to take advantage of a rigorous economic analysis that uses first-hand information and draws useful lessons for the future.