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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 48
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 48
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Book Description
Author: Mr.Jörg Decressin
Publisher: International Monetary Fund
ISBN: 1589066235
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
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: Roman Matoušek
Publisher: Routledge
ISBN: 1136339701
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
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: European Central Bank
Publisher:
ISBN:
Category : Aktiemarkeder
Languages : en
Pages : 376
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Book Description
Author: Lieven Baele
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate-bond, government-bond, credit, and equity markets. Building upon the law of one price, we have developed two types of indicators that can be broadly categorized as price-based and news-based measures. We have complemented these measures by a number of quantity-based indicators, mainly related to the evolution of the home bias. Results indicate that the unsecured money market is fully integrated, while integration is reasonably high in the government- and corporate-bond markets, as well as in the equity markets. The credit market is among the least integrated, especially in the short-term segment.
Author: Vitor Gaspar
Publisher:
ISBN: 9789291813483
Category : Banks and banking
Languages : en
Pages : 334
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Book Description
Author: Alberto Giovannini
Publisher: Cambridge University Press
ISBN: 9780521428903
Category : Business & Economics
Languages : en
Pages : 380
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Book Description
Leading international experts examine the implications of integration for the monetary structure of the European community.
Author: Jakob de Haan
Publisher: Cambridge University Press
ISBN: 1107119995
Category : Business & Economics
Languages : en
Pages : 557
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Book Description
Now in its third edition, this successful textbook insightfully analyses the global financial system from a European perspective.
Author: Sławomir Ireneusz Bukowski
Publisher: Routledge
ISBN: 0429575610
Category : Business & Economics
Languages : en
Pages : 126
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Book Description
This book introduces readers to the world of international financial markets and their integration on a global and regional scale. The author presents the theoretical and practical issues concerning the processes of financial market integration, with a particular focus on the monetary union. The empirical research results are based on econometric modeling, thus simplifying them for a non-specialist audience, who can instead concentrate on the author’s conclusions, which comprise the results of these complicated research methods. The author outlines the role and functions of financial markets in the economy, in particular the relationship between financial intermediaries and financial markets and tackles the question of integration of new EU member countries’ financial markets within the eurozone. The integration of financial markets in an international context is inevitable, and the author argues that we must learn how to benefit from it from in terms of economic growth. This book will be a valuable resource for students of economics and finance, particularly those studying financial management and international business and finance, as well as professionals in these fields. Further, this book will be of interest to anyone looking to discover more about the problems of globalization and the integration of financial markets into the modern economy.
Author:
Publisher:
ISBN: 9789279572692
Category :
Languages : en
Pages : 28
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Book Description
We compute three possible measures based on the sensitivity of domestic European stock (sovereign bond) markets to global, US or European shocks. The common rationale is to measure the extent to which domestic stock (bond) market volatility incorporates external shocks, following the idea that in more integrated markets shocks transmit more easily. The first method, based on correlation of stock market returns, offers two measures of integration. Firstly, the proportion of shocks generated in EU and US markets that actually hit EU domestic markets and secondly domestic sensitivity to foreign shocks. The third method, based on common factor portfolios, identifies a set of recurrent common patterns in EU and World stock and bond markets. Domestic returns are then matched against these global factors to investigate the degree of co-movement. This technical report collects JRC contribution to the European Financial Stability and Integration Review (SWD(2016)146, Brussels 25 April 2016) in agreement with the Administrative Arrangement FISMA/2015/124/B2/ST/AAR.
