Download or read book Europe and the Governance of Global Finance written by Daniel Mügge and published by . This book was released on 2014 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union (EU) has emerged as a central actor in financial governance. Hardly any corner of European financial markets remains untouched by EU rules, and key regulatory competences have been shifted from national authorities to supranational ones. At the same time, the global context has become ever more important for how and to what effect the EU regulates its financial markets. On the one hand, EU policymaking is embedded in global initiatives such as the Basel Committee on Banking Supervision. On the other hand, the EU now rivals the USA in its ability to shape global rules. Scholars and practitioners cannot make sense of EU rulemaking without studying its links to global financial governance, just as to understand how global initiatives evolve they have to appreciate the rise of the EU as a global regulatory force. This book charts and analyses this centrality of the European-global link in financial governance for the first time. Its chapters, written by experts in the specific fields, cover the whole breadth of financial markets. They range from banking, auditing and accounting to derivatives trading, money laundering, and tax governance. This book offers comprehensive coverage of: how and why global and European financial governance have co-evolved over time; how global and European rules, institutions, and actors are linked today; and what this implies for future global and European financial governance. It is essential reading for anyone who wants to understand the dynamics of either global or European financial regulation.

Download or read book Digital Finance in Europe Law Regulation and Governance written by Emilios Avgouleas and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-12-20 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.

Download or read book Europe s Place in Global Financial Governance after the Crisis written by Daniel Mügge and published by Routledge. This book was released on 2016-03-31 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years leading up the global financial crisis, the European Union (EU) had emerged as a central actor in global financial governance, almost rivalling the United States in influence. While the USA and the EU continue to dominate financial rule setting in the post-crisis world, the context in which they do so has changed dramatically. Pre-crisis ideas about laissez-faire regulation have been discarded in favour of more interventionist ones. The G20 and the Financial Stability Board have been charged with stronger coordination of global efforts. At the same time, jurisdictions have re-emphasized the need "to get their own regulatory house in order" before committing to further global harmonization. And through banks failures and massive bail-outs, the financial sector – hitherto a driving force behind the cross-border integration of finance – has been reconfigured. This book asks a straightforward question: what have these and other key post-crisis trends in global finance done to the position that the European Union occupies in it? The contributions to this book analyse the link between financial governance in the European Union and on the global level from diverse theoretical angles, and they cover the main issues that will shape the future European role on the global regulatory stage. This book was published as a special issue of the Journal of European Public Policy.

Download or read book Transnational Financial Associations and the Governance of Global Finance written by Heather McKeen-Edwards and published by Routledge. This book was released on 2013 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of business in global governance is now widely recognized, but exploration of its role in global financial governance has been more haphazard than systematic. This book provides the first comprehensive analysis of the role of transnational financial associations (TFAs) in the organization of global finance. This book develops three theoretical themes of assemblage, functionality, and power as enrolment. These themes challenge approaches that treat financial power as emanating from a single location or force. Whilst existing approaches tend to treat TFAs as irrelevant or as merely transmitting power originating elsewhere, this book argues that power must be created by painstakingly assembling actors, networks, and objects that are often quite autonomous and working at cross purposes to one another--a process in which TFAs play a central role. The book explores these themes in chapters examining the roles of TFAs in interacting with public authorities, constructing global financial markets, and creating financial communities. The authors additionally analyse the roles of TFAs in the European Union, in the Global South, and in promoting goals other than profitability, including Islamic finance, microfinancing, savings banks and cooperatives. Making a distinctive contribution to our understanding of global finance and global governance, Transnational Financial Associations and the Governance of Global Finance is an important book for students and scholars of international political economy, finance, global governance and international relations.

Download or read book The European Union and Global Financial Regulation written by Lucia Quaglia and published by OUP Oxford. This book was released on 2014-06-26 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union and Global Financial Regulation examines the influence of the European Union (EU) in regulating global finance, addressing several inter-related questions. Why does the EU 'upload' international financial regulation in some cases, 'download' it in other cases, and 'cross-load' either actively or passively in other instances? Has this changed over time, especially after the third stage of Economic and Monetary Union and the completion of the single financial market, or after the global financial crisis? Under what conditions is the EU more or less likely to upload, download or cross load rules? Through which mechanisms does this take place? Overall, does the EU act as a pace setter in regulating global finance, or is it mainly a follower? Why? The key explanatory variable used in this research is the concept of 'regulatory capacity', applied to the EU and the US, distinguishing between 'strong' and 'weak' regulatory capacity. The influence of the EU in global financial regulation depends on the combinations of EU and US regulatory capacities. When EU regulatory capacity is weak and US regulatory capacity is strong, the US will mainly upload its domestic rules internationally and/or actively cross load them to the EU, whereas the EU will mainly download international rules. When the EU regulatory capacity is strong and US regulatory capacity is weak, the EU is able to upload its rules internationally and/or actively cross load them to third countries. When the EU and the US regulatory capacities are weak, private sector governance prevails. When the EU and US regulatory capacities are strong, both jurisdictions seek to upload and cross load their domestic rules.

Download or read book Global Finance and Social Europe written by John Grahl and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This book provides an excellent critical account of the relationship between global financial developments, the emergent European financial system, and the implications of the operation of these for the European social model and its future. The chapters carefully analyze the characteristics of current financial relationships and show how these impinge on a whole range of policy areas from employment and social protection thought to economic stability and retail financial markets. The book builds up a systematic picture of the pressures being experienced throughout European society as financial engineering has gathered pace, and provides telling suggestions as to how to combat the most threatening aspects of these developments for European policy makers. This book is a "must read" for anyone concerned about the possible consequences of recent tumultuous events that have shaken the global financial system.' – Grahame Thompson, The Open University, UK and Copenhagen Business School, Denmark With global finance reshaping the world economy, this insightful new book provides a full account of the EU's financial integration strategy, together with a critical assessment arguing the case for social control over global finance. Written by acknowledged experts in European finance, this book discusses key issues from finance to general social developments, encompassing social security systems, employment relations, household saving and borrowing, and the question of economic stability. Thus far, America has been pre-eminent both in global financial markets and international banking – so how should the European Union meet this challenge? Global Finance and Social Europe constructively argues that an active response is required and highlights the importance of an integrated European financial system. Aimed at an international audience, this book will strongly appeal to researchers, academics and readers who share an interest in European integration and global economic issues.

Download or read book Sustainable Finance in Europe written by Danny Busch and published by Springer Nature. This book was released on with total page 732 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Governance of Global Financial Markets written by Emilios Avgouleas and published by Cambridge University Press. This book was released on 2012-04-26 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyses governance structures for international finance, evaluates current regulatory reforms and proposes a new governance system for global financial markets.

Download or read book Corporate Governance and the Global Financial Crisis written by William Sun and published by Cambridge University Press. This book was released on 2011-07-21 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two decades there has been a notable increase in the number of corporate governance codes and principles, as well as a range of improvements in structures and mechanisms. Despite this, corporate governance failed to prevent a widespread default of fiduciary duties of corporate boards and managerial responsibilities in the finance industry, which contributed to the 2007–10 global financial crisis. This book brings together leading scholars from North America, Europe, Asia-Pacific and the Middle East to provide fresh and critical analytical insights on the systemic failures of corporate governance linked to the global financial crisis. Contributors draw from a range of disciplines to demonstrate the severe limitations of the dominant corporate governance framework and its associated market-oriented approach. They provide suggestions on how the governance problems could be tackled to prevent or mitigate any future financial crisis and explore new directions for post-crisis corporate governance research and reforms.

Download or read book Global Finance in Crisis written by Eric Helleiner and published by Routledge. This book was released on 2010-01-21 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a systematic analysis of the international regulatory response to the global financial crisis. This volume examines the changes in international financial regulation from the vantage point of the key powers in global finance including the US, the EU, Japan, and China.

Download or read book The Geography of Finance written by Gordon L. Clark and published by OUP Oxford. This book was released on 2007-05-03 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Geography of Finance tackles crucial issues regarding the emerging global market for corporate governance. The authors describe and explain the transformation of European corporate governance in the light of the imperatives driving global financial markets, using an innovative analytical framework. The authors chart the response of corporate managers to the interest of global portfolio managers in transparent and accountable modes of corporate governance. In doing so, the authors provide an innovative perspective on a rapidly changing environment; and a challenge to those who ignore the gathering momentum of global financial markets.

Download or read book Digital Finance in Europe Law Regulation and Governance written by Emilios Avgouleas and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-12-20 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global finance is in the middle of a radical transformation fueled by innovative financial technologies. The coronavirus pandemic has accelerated the digitization of retail financial services in Europe. Institutional interest and digital asset markets are also growing blurring the boundaries between the token economy and traditional finance. Blockchain, AI, quantum computing and decentralised finance (DeFI) are setting the stage for a global battle of business models and philosophies. The post-Brexit EU cannot afford to ignore the promise of digital finance. But the Union is struggling to keep pace with global innovation hubs, particularly when it comes to experimenting with new digital forms of capital raising. Calibrating the EU digital finance strategy is a balancing act that requires a deep understanding of the factors driving the transformation, be they legal, cultural, political or economic, as well as their many implications. The same FinTech inventions that use AI, machine learning and big data to facilitate access to credit may also establish invisible barriers that further social, racial and religious exclusion. The way digital finance actors source, use, and record information presents countless consumer protection concerns. The EU’s strategic response has been years in the making and, finally, in September 2020 the Commission released a Digital Finance Package. This special issue collects contributions from leading scholars who scrutinize the challenges digital finance presents for the EU internal market and financial market regulation from multiple public policy perspectives. Author contributions adopt a critical yet constructive and solutions-oriented approach. They aim to provide policy-relevant research and ideas shedding light on the complexities of the digital finance promise. They also offer solid proposals for reform of EU financial services law.

Download or read book Money Payment Systems and the European Union written by Gabriella Gimigliano and published by Cambridge Scholars Publishing. This book was released on 2016-12-14 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: When the term “governance” is associated with money, the mind goes directly to the traditional regulatory paradigm, i.e. the nation State-Central Banking-Currency. However, over time, there has been a steady erosion of the nation states’ sovereignty, also in the area of monetary law. This process of erosion is still working from within and externally to the nation State or, in other words, from upwards to downwards and vice versa. Moving from upwards to downwards, highly interconnected financial markets have urged the national competent authorities to improve the global level of coordination in terms of sharing regulatory standards, supervisory models and risk-monitoring procedures. In the downwards-upwards direction, the concept of sovereignty is critically revised from the perspective of new and alternative means of payment, thanks to the growth of e-commerce and mobile commerce and new complementary currency projects. The European Union is a feasible institutional context in which to investigate the development of the governance of money. Indeed, the EU, considered as a “unique economic and political partnership”, has not laid down a clear-cut definition of money, but the Member States have been carrying on a varying transfer of sovereignty and, in particular, of monetary sovereignty. This book examines money as a means of payment and a reserve of value within the framework of the European Union, with particular attention to community-based currencies. This book will prove an interesting and informative read for academics, students and policymakers with an interest in the development of monetary and financial systems.

Download or read book Governance of Global Financial Markets written by Emilios Avgouleas and published by Cambridge University Press. This book was released on 2012-04-26 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial crisis proved that pre-existing arrangements for the governance of global markets were flawed. With reform underway in the USA, the EU and elsewhere, Emilios Avgouleas explores some of the questions associated with building an effective governance system and analyses the evolution of existing structures. By critiquing the soft law structures dominating international financial regulation and examining the roles of financial innovation and the neo-liberal policies in the expansion of global financial markets, he offers a new epistemological reading of the causes of the global financial crisis. Requisite reforms leave serious gaps in cross-border supervision, in the resolution of global financial institutions and in the monitoring of risk originating in the shadow banking sector. To close these gaps and safeguard the stability of the international financial system, an evolutionary governance system is proposed that will also enhance the welfare role of global financial markets.

Download or read book Corporate Governance Financial Markets and Global Convergence written by Morten Balling and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: for many years been heavily dependent on bank financing, and this situation has not changed fundamentally. In his paper on stock exchange governance in the European Union Guido Ferrarini discusses the relative merits of member and investor ownership and compares stock exchange regulation in a number of EU countries. Faced with increasing competition amongst themselves and against other enterprises that offer transaction services, such as proprietary trading systems, it is essential for European stock exchanges to improve their efficiency and to generate volume. Large investments in new information technology are necessary in order to preserve competitiveness in agIobaI financial market. The implementation of the ISD has accelerated cross-border transaction activity of member firms and investors and strengthened the pressure for convergence of national stock exchange laws in the EU. In their paper, Francesco Giavazzi and Marco Battaglini look at the role played by banks in privatization processes. Banks can be involved in such processes in several ways. They may themselves be the objects of privatization since in many countries a significant fraction of the banking industry is publicly owned. This is the case in France, Spain and Italy. But banks can also be important buyers of the equity of industrial firms sold by the government if they are allowed to do so. The authors characterize privatizations as a very good opportunity to set up the right environment for the development of new financial intermediaries and in general for asound corporate governance system.

Download or read book The EU s Role in Global Governance written by Bart Van Vooren and published by OUP Oxford. This book was released on 2013-01-17 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: For years the European Union has been looked on as a potential model for cosmopolitan governance, and enjoyed considerable influence on the global stage. The EU has a uniquely strong and legally binding mission statement to pursue international relations on a multilateral basis, founded on the progressive development of international law. The political vision was for the EU to export its values of the rule of law and sophisticated governance mechanisms to the international sphere. Globalization and the financial crisis have starkly illustrated the limits of this vision, and the EU's dependence on global forces partially beyond the control of traditional provinces of law. This book takes stock of the EU's role in global governance. It asks: to what extent can and does the EU shape and influence the on-going re-ordering of legal processes, principles, and institutions of global governance, in line with its optimistic mission statement? With this ambitious remit it covers the legal-institutional and substantive aspects of global security, trade, environmental, financial, and social governance. Across these topics 23 contributors have taken the central question of the extent of the EU's influence on global governance, providing a broad view across the key areas as well as a detailed analysis of each. Through comparison and direct engagement with each other, the different chapters provide a distinctive contribution to legal scholarship on global governance, from a European perspective.

Download or read book Handbook of Global Economic Governance written by Manuela Moschella and published by Routledge. This book was released on 2013-12-17 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the summer of 2007, the world scenario has been dominated by the US sub-prime mortgage crisis and its repercussions on global financial markets and economic growth. As banks around the world wrote down their losses and governments intervened to rescue domestic financial institutions, financial distress severely hit the real economy leading to what has been widely defined as the worst recession since the 1930s. Under these conditions, along with the immediate concern for stemming the effects of the crisis, policy-makers around the world have been debating the long-term measures that have to be adopted in order to reduce the likelihood of future crises and to ensure stable economic growth. Although this debate has not yet produced significant transformations, it indicates a renewed concern about the institutional architecture that is meant to govern the global economic and financial system. This book tackles the issue of what the governance of the global economic and financial system looks like and what the prospects for its reform are. Specifically, the book will address the following three main themes: Governance: What is governance in the international economic system? What forms does it take? How did it come about? How can we study it?; Functions of governance: What are the functions of global economic governance? Who performs them? What are the rules and mechanisms that make global governance possible? Problems and prospects of governance: What are the problems in global economic governance? Is there a trade-off between legitimacy and efficiency? What are the prospects for reform of global economic governance in the aftermath of the global financial crisis? This book will: _ Provide a thorough analysis of the issues at stake in designing international rules and institutions able to govern the global economy; _ Illustrate and analyze virtually all the main institutions, rules, and arrangements that make up global economic governance, inscribing them within the function these institutions, rules, and arrangements are meant to perform; _ Discuss the problems that affect today’s global economic governance and assess alternative proposals to reform the international financial architecture.