Euro Area Retail Banking Markets Integration
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Integration In Euro Area Retail Banking Markets Convergence Of Credit Interest Rates
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Author : Laura Vajanne
language : en
Publisher:
Release Date : 2007
Integration In Euro Area Retail Banking Markets Convergence Of Credit Interest Rates written by Laura Vajanne and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Euro Area Retail Banking Markets Integration
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Author : Dr. John Aggelis
language : en
Publisher:
Release Date : 2006
Euro Area Retail Banking Markets Integration written by Dr. John Aggelis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
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.
Elements Of The Euro Area
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Author : Mauro Grande
language : en
Publisher: Routledge
Release Date : 2018-10-26
Elements Of The Euro Area written by Mauro Grande and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-26 with Political Science categories.
First published in 2005, this volume considers that, 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.
Creating And Governing An Integrated Market For Retail Banking Services In Europe
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Author : Matthäus Markus Sielecki
language : en
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Release Date : 2011
Creating And Governing An Integrated Market For Retail Banking Services In Europe written by Matthäus Markus Sielecki and has been published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Banking law categories.
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.
Integrating Europe S Retail Banking Market
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Author : Stefanie Kleimeier
language : en
Publisher:
Release Date : 2007
Integrating Europe S Retail Banking Market written by Stefanie Kleimeier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Banks and banking categories.
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.
Regional Versus Global Integration Of Euro Zone Retail Banking Markets Understanding The Recent Evidence From Price Based Integration Measures
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Author : Stefanie Kleimeier
language : en
Publisher:
Release Date : 2005
Regional Versus Global Integration Of Euro Zone Retail Banking Markets Understanding The Recent Evidence From Price Based Integration Measures written by Stefanie Kleimeier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Integration Of European Banking
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Author : Pedro Pita Barros
language : en
Publisher: Centre for Economic Policy Research
Release Date : 2005
Integration Of European Banking written by Pedro Pita Barros and has been published by Centre for Economic Policy Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Banker categories.
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.
Banking Integration In The Euro Area
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Author : Inês Cabral
language : en
Publisher:
Release Date : 2014
Banking Integration In The Euro Area written by Inês Cabral and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This paper provides an assessment of the degree of integration in banking services in the euro area. It diverges from the typical analysis on integration in the financial sector by focusing on the main financial products and services provided by banks to corporate and personal clients rather than on financial markets. As the quot;law-of-one-pricequot; concept is often not applicable to banking products and services, a wide range of quantitative and qualitative indicators of integration is used in the analysis. Indicators of integration are reviewed for three product areas: wholesale (unsecured interbank loans and deposits, repo market) capital market-related (corporate finance services, asset management and trading) and retail (directed to households and small firms). The main conclusions are that while the market on wholesale banking services is strongly integrated and integration is advancing at a fast pace in capital market-related activities, market segmentation is still significant at the retail level.
Capital Structure And Assets Risk
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Author : Marco Botta
language : en
Publisher: GRIN Verlag
Release Date : 2014-05-21
Capital Structure And Assets Risk written by Marco Botta and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-21 with Business & Economics categories.
Doctoral Thesis / Dissertation from the year 2007 in the subject Economics - Finance, grade: NA, Catholic University of Sacred Heart, language: English, abstract: Using a sample of non-financial listed firms located in the Euro area, I investigate the determinants of capital structure choices. In line with the traditional theoretical approach, I use a market-value measure of leverage, estimated with the Black-Scholes-Merton model. In the cross-section regressions for firm leverage I find that some variables have similar effects across countries, while others may play a different role; risk, measured as the volatility of the market enterprise value, is the best predictor of observed leverage ratios. Risk, and asymmetric information about risk, make debt less attractive, because of higher expected bankruptcy costs, lower expected debt tax shield and higher agency costs. National environments are an important determinant of observed ratios; sector of activity is a relevant factor as well. The integration of Euro-area financial markets varies significantly depending on the market segment considered: money and inter-bank markets are highly integrated, corporate bond and equity markets show a clear path of increasing integration, retail banking markets are much less integrated. Fiscal and bankruptcy rules differ across the twelve countries; the economic background varies as well.
European Financial Market Integration
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Author : Stefanie Kleimeier
language : en
Publisher:
Release Date : 2002
European Financial Market Integration written by Stefanie Kleimeier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.