Download or read book How Integrated are the European Retail Financial Markets A Cointegration Analysis written by Martin Schüler and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this distinction between wholesale and retail markets becomes crucial. There is a wide literature relating to integration of wholesale financial markets but just a few studies that try to measure integration in European retail markets. This paper, in a first step, gives a systematisation of the literature on measuring financial market integration with a focus on the distinction between wholesale and retail financial markets. In a second step, bivariate and multivariate cointegration techniques are used to assess the degree of integration in four loans and two deposit markets in the European Union. Finally, based on this analysis obstacles to financial market integration are discussed.
Download or read book Integrating Retail Financial Markets in Europe written by Rym Ayadi and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has damaged consumer confidence in the financial services market of the European Union. Trillions of euros in losses and government bailouts have been born partially by taxpayers, small investors, and retail customers in several member states. Against this background, Rym Ayadi argues that European policymakers ought to rethink their approach to financial market integration in order to continue the construction of the internal market for retail financial services. Urgent efforts should be taken to ensure financial safety for retail consumers and to enhance consumer protection at the EU level. To restore market and consumer confidence in retail financial services, Ayadi calls for the implementation of European frameworks for financial safety, regulation, and consumer protection.
Download or read book How Integrated are the European Retail Financial Markets written by Martin Schüler and published by . This book was released on 2002 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the introduction of the Euro, a single European money market has emerged. Further wholesale financial markets are considered to be highly integrated within the European Union. However, integration in retail financial markets is less advanced. For measuring financial market integration this distinction between wholesale and retail markets becomes crucial. There is a wide literature relating to integration of wholesale financial markets but just a few studies that try to measure integration in European retail markets. This paper, in a first step, gives a systematisation of the literature on measuring financial market integration with a focus on the distinction between wholesale and retail financial markets. In a second step, bivariate and multivariate cointegration techniques are used to assess the degree of integration in four loans and two deposit markets in the European Union. Finally, based on this analysis obstacles to financial market integration are discussed.
Download or read book Integrating Europe s Retail Banking Market written by Stefanie Kleimeier and published by . This book was released on 2007 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report offers a comprehensive survey of recent empirical research on the state and development of retail banking integration in Europe. The authors, Stefanie Kleimeier and Harald Sander, document a broad consensus that retail banking integration is still limited, although it seems to have recently gained momentum. Kleimeier and Sander find, however, that there is less agreement on how to measure the phenomenon. They warn that the various types of integration measures should be interpreted with care, due to their shortcomings and in order to avoid jumping to the wrong policy conclusion. In their view, the recent acceleration in integration has been driven mostly by wholesale financial market integration and more general financial developments. The authors conclude that integration policies need to be supplemented by competition, financial development, and financial stability policies.
Download or read book Financial Market Integration and Growth written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2011-02-14 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Incomplete European Market for Financial Services written by Paolo Cecchini and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking back over the last decade it can be said with some justification that sig nificant progress has been achieved on the way towards fully integrated financial markets in Europe. The 1993 Internal Market initiative and the Euro introduction in 1999/2002 constitute important milestones. The integration process has further been intensified by market developments like the surge in mergers and acquisi tions and by technological innovations like internet based distribution. As a result, some market segments today do no longer have a national character. Nevertheless, this success should not obscure the fact that integration of financial services markets is still a long way from the level of integration that exists within national markets. Particularly for retail financial services national borders still constitute a considerable de facto barrier. The absence of frequent direct cross border links between financial service providers and retail consumers holds true despite the fact that the Euro has made product comparisons easier and that the internet has reduced information costs to a considerable extent.
Download or read book Elements of the Euro Area written by Mauro Grande and published by Routledge. This book was released on 2018-02-06 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: As time elapses since the introduction of the Euro, it is legitimate to start asking what impact the new currency and the single monetary policy have had on European integration. This book provides the most comprehensive review of financial integration in the euro area. The volume includes an introduction to the institutional features of the euro area and the literature on financial integration. It examines developments in the financial structures at large and moves forward to focus on specific areas pertaining to financial intermediaries, the bond and equity markets, and market-based debt finance. It is particularly suited to researchers and students of developments in the euro area, central banking, money and banking, as well as international relations and international business more generally. While the introductory chapters will help in bringing undergraduates on board, the later chapters will particularly benefit the early graduate student as well as the professional observer.
Download or read book Integrating Europe s Financial Markets written by Mr.Jörg Decressin and published by International Monetary Fund. This book was released on 2007-09-12 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Financial Market Integration and Growth written by Paul J.J. Welfens and published by Springer. This book was released on 2011-02-14 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Report on Financial Structures written by European Central Bank and published by . This book was released on 2002 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Integration in Euro Area Retail Banking Markets Convergence of Credit Interest Rates written by Laura Vajanne and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Financial Integration written by Alberto Giovannini and published by Cambridge University Press. This book was released on 1991 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading international experts examine the implications of integration for the monetary structure of the European community.
Download or read book Financial Integration in the European Union written by Roman Matoušek and published by Routledge. This book was released on 2012-03-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book EU Competition Law the Consumer Interest and Data Protection written by Federico Ferretti and published by Springer. This book was released on 2014-07-24 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: The legitimacy or illegitimacy of information exchanges between competitors remains a topical debate with regard to EU competition law and policy. This book reexamines the issue in the retail financial services sector, focusing on the peculiar problems that it poses for EU market integration, consumer policy and protection and the intersection with fundamental rights. It analyzes and reflects on the relevant case law and guidelines offered by the corresponding European authorities, providing a critique of the current approach and advancing the proposition that information markets themselves need attention, in addition to the markets that they serve. The book also advances new perspectives on cases in which consumers’ personal information is involved in the exchange, recognizing the inevitable interaction between EU competition law, the interests and protection of consumers and personal data protection. It suggests that the status quo under competition law is unsatisfactorily short sighted and that the EU should take a holistic approach (including information markets) to the analysis of competition law, reflecting consumer protection and fundamental rights aspects in the assessment.
Download or read book Cross Border Entry in European Retail Financial Services written by Tobias C Hoschka and published by Springer. This book was released on 1993-12-13 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing a comprehensive assessment of the strategies of banks and insurance companies in the move towards an internal European market for financial services, this book analyzes the latest theoretical and institutional developments. It also provides a range of case studies of actual cross-border entry strategies of some of the largest European financial institutions.
Download or read book Euro Area Retail Banking Markets Integration written by Dr. John Aggelis and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: An integrated market for financial services has been considered an integral part of the European Union's single market project. This is particularly true as finance in continental Europe is traditionally bank-dominated. The creation of a single currency for twelve European member states has been seen by many as a potential common ground for retail banking markets, which is expected to facilitate further integration. This paper investigates the impact of the introduction of the single currency on the degree of integration between the potential retail interest rate markets in the Euro area. Given the non-stationary nature of the retail rate series, the method of cointegration through a VAR specification is employed. In particular, by employing co-integration, market integration will exist when interest rates exhibit a certain long-term equilibrium relationship, by recognizing at the same time that full equalization may not occur. This study focuses on the period from January 1985 to January 2004 as well as on the pre- and post-Euro sub-periods.
Download or read book European Financial Markets and Institutions written by Jakob de Haan and published by Cambridge University Press. This book was released on 2009-01-15 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for undergraduate and graduate students, this textbook provides a fresh analysis of the European financial system.
