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 Towards a Single Retail Banking Market written by Harold Sanders and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Integration of European Banking written by Pedro Pita Barros and published by Centre for Economic Policy Research. This book was released on 2005 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation. The regulation of network industries has emerged as a key issue on the European policy agenda, yet there is little high-quality research capable of informing the European policy debate. The Monitoring European Deregulation (MED) series was launched by CEPR and SNS in 1997 and features new, policy-oriented research on the liberalization of the European markets of the major network industries (previous reports have focused on telecommunications and electricity). Addressed to a wide audience of both academics and European decisionmakers in the private-sector and policy communities, at both the national and EU level, the new reportwhich focuses on the deregulation of the European banking systemwill play an important role in influencing current thinking on these issues and contributing to the policy debate.

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 Creating and Governing an Integrated Market for Retail Banking Services in Europe written by Matthäus Markus Sielecki and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of the Economic and Monetary Union (EMU) has accelerated the harmonization process of regulation and governance in Europe. However, the integration of fragmented retail banking markets still represents a difficult task for regulators. This book investigates the role of EU policy in creating a single market, addressing explicitly questions on the choice of policy measures to overcome barriers to integration persistent in these markets. Based on an analysis of different regulatory theories, the author develops a conceptual framework and illustrates its applicability to the case of the Single Euro Payments Area (SEPA) initiative. The fact that a single market has not yet evolved is less a sign of market or coordination failures than of government failures. The author concludes that, despite the political resistance from national interest groups, regulatory barriers need to be removed first to provide a level playing field for banks and a safe legal environment for consumers.

Download or read book A New Metric for Banking Integration in Europe written by Reint Gropp and published by . This book was released on 2008 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration. The paper proposes a new test of integration based on convergence in banks' profitability. The new test emphasises the role of an active market for corporate control and of competition in banking integration. European listed banks profitability appears to converge to a common level. There is weak evidence that competition eliminates high profits for these banks, and underperforming banks tend to show improved profitability. Unlisted European banks differ markedly. Their profits show no tendency to revert to a common target rate of profitability. Overall, the banking market in Europe appears far from being integrated. In contrast, in the U.S. both listed and unlisted commercial banks profits converge to the same target, and high profit banks see their profits driven down quickly.

Download or read book Europe and the Euro written by Alberto Alesina and published by University of Chicago Press. This book was released on 2010-04-15 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union.

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 A New Metric for Banking Integration in Europe written by Reint Gropp and published by . This book was released on 2010 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration. The paper proposes a new test of integration based on convergence in banks' profitability. The new test emphasises the role of an active market for corporate control and of competition in banking integration. European listed banks profitability appears to converge to a common level. There is weak evidence that competition eliminates high profits for these banks, and underperforming banks tend to show improved profitability. Unlisted European banks differ markedly. Their profits show no tendency to revert to a common target rate of profitability. Overall, the banking market in Europe appears far from being integrated. In contrast, in the U.S. both listed and unlisted commercial banks profits converge to the same target, and high profit banks see their profits driven down quickly.

Download or read book The Future of Retail Banking in Europe written by Oonagh McDonald and published by John Wiley & Sons. This book was released on 2003-03-28 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within Europe, the banking sector is commencing a period of considerable change and consolidation. Advances in technology, competition from the non-banking sector, the introduction of the Euro, a European Central bank and, possibly, pan-European Regulation, combined with the challenge from US banks, increased mergers and changing practices means 21st century banking is changing immeasurably. The Future of Retail Banking in Europe is written in an accessible style by Oonagh McDonald and Kevin Keasey, two of the leading authorities in the field and includes: In-depth analysis of the banking structures in all the major European markets. Foreword by Guy Warren, Head of Banking, Europe, Unisys Corporation Unique insights into the industry from the CEOs of major European banks. The challenges being faced in the industry and predictions into what the future holds for retail banking in Europe. This book will be essential reading for middle and senior managers in the banking and financial service sectors, both suppliers and investors in the banking sector, and MBA students.

Download or read book The Transformation of the European Financial System written by Vitor Gaspar and published by . This book was released on 2003-01-01 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book European Financial Market Integration written by Stefanie Kleimeier and published by . This book was released on 2002 with total page 46 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 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 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 361 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 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 Retail Banking in European Financial Integration written by Jukka Vesala and published by . This book was released on 1993 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: El objetivo de este estudio es el examen amplio de los efectos competitivos y estructurales de la integracion financiera bancaria en el Espacio Economico Europeo. El examen se centra fundamentalmente en la banca al por menor, que incluye los bancos de pequeño y mediano tamaño. Describe aspectos de la regulacion bancaria de la Comunidad Europea y el marco regulatorio existente en los principales paises comunitarios y Finlandia y Suecia. Incluye bibliografia, graficos y cuadros estadisticos comparativos. (igg).