Financial Integration In Europe
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Author |
: Richard Pomfret |
Publisher |
: Harvard University Press |
Total Pages |
: 273 |
Release |
: 2021-06-08 |
ISBN-10 |
: 9780674259430 |
ISBN-13 |
: 0674259432 |
Rating |
: 4/5 (30 Downloads) |
Synopsis The Economic Integration of Europe by : Richard Pomfret
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 |
: European Central Bank |
Publisher |
: |
Total Pages |
: 376 |
Release |
: 2002 |
ISBN-10 |
: UCSD:31822031363575 |
ISBN-13 |
: |
Rating |
: 4/5 (75 Downloads) |
Synopsis Report on Financial Structures by : European Central Bank
Author |
: Mr.Charles Enoch |
Publisher |
: International Monetary Fund |
Total Pages |
: 524 |
Release |
: 2013-12-11 |
ISBN-10 |
: 9781484387665 |
ISBN-13 |
: 148438766X |
Rating |
: 4/5 (65 Downloads) |
Synopsis From Fragmentation to Financial Integration in Europe by : Mr.Charles Enoch
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 |
: Michelle Egan |
Publisher |
: OUP Oxford |
Total Pages |
: 300 |
Release |
: 2015-01-22 |
ISBN-10 |
: 9780191045707 |
ISBN-13 |
: 0191045705 |
Rating |
: 4/5 (07 Downloads) |
Synopsis Single Markets by : Michelle Egan
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 |
Total Pages |
: 0 |
Release |
: 2016 |
ISBN-10 |
: 1786600447 |
ISBN-13 |
: 9781786600448 |
Rating |
: 4/5 (47 Downloads) |
Synopsis Europe's Untapped Capital Market by : Diego Valiante
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 |
: European Central Bank |
Publisher |
: |
Total Pages |
: 26 |
Release |
: 1998 |
ISBN-10 |
: IND:30000061570374 |
ISBN-13 |
: |
Rating |
: 4/5 (74 Downloads) |
Synopsis Correspondent Central Banking Model (CCBM) by : European Central Bank
Author |
: Jonathan Story |
Publisher |
: Manchester University Press |
Total Pages |
: 356 |
Release |
: 1997 |
ISBN-10 |
: 0719043131 |
ISBN-13 |
: 9780719043130 |
Rating |
: 4/5 (31 Downloads) |
Synopsis Political Economy of Financial Integration in Europe by : Jonathan Story
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 |
Publisher |
: Routledge |
Total Pages |
: 281 |
Release |
: 2012-03-15 |
ISBN-10 |
: 9781136339707 |
ISBN-13 |
: 1136339701 |
Rating |
: 4/5 (07 Downloads) |
Synopsis Financial Integration in the European Union by : Roman Matoušek
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 |
: Age F.P. Bakker |
Publisher |
: Springer Science & Business Media |
Total Pages |
: 350 |
Release |
: 2012-12-06 |
ISBN-10 |
: 9789401101233 |
ISBN-13 |
: 940110123X |
Rating |
: 4/5 (33 Downloads) |
Synopsis The Liberalization of Capital Movements in Europe by : Age F.P. Bakker
The member states are facing the choice between either reaping the benefits of increasing integration in a certain area - in this case the capital markets - attended by a significant reduction in national powers of autonomous decision-making and independence, or retaining this national independence enabling them to pursue their own policy objectives with the aid of instruments selected at their discretion. To this question, there is no generally valid answer. The solution is determined by the weight assigned to the benefits, on the one hand, and that assigned to the reduction in national sovereignty, on the other. This, however, is a subjective matter, which is assessed differently in the various countries. OnnoRuding, 1969 1. 1 CAPITAL LffiERALIZATION AND MONETARY UNIFICATION In the 1980s Europe made a leap forward towards the liberalization of capital movements. EEC directives were accepted by all member states obliging them to abolish all remaining exchange controls. This common objective of freedom of capital movements has been consolidated in the Treaty on European Union. Nowadays virtually all restrictions have been lifted. This stands in striking contrast to the state of affairs only a decade ago, when many countries still operated a tight regime. Although the Treaty of Rome provided for the freedom of capital movements, this objective was circumscribed by the clause that such liberalization should only be carried through to the extent necessary to ensure the proper functioning of the Common Market.
Author |
: Harald A. Benink |
Publisher |
: Springer Science & Business Media |
Total Pages |
: 212 |
Release |
: 2012-12-06 |
ISBN-10 |
: 9789401118385 |
ISBN-13 |
: 9401118388 |
Rating |
: 4/5 (85 Downloads) |
Synopsis Financial Integration in Europe by : Harald A. Benink
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.