Integrating Europe's Financial Markets.

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 ma...

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Bibliographic Details
Main Author: Decressin, Jörg
Other Authors: Fonteyne, Wim, Faruqee, Hamid
Format: eBook
Language:English
Published: Washington : International Monetary Fund, 2007.
Subjects:
Online Access:Click for online access

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245 1 0 |a Integrating Europe's Financial Markets. 
260 |a Washington :  |b International Monetary Fund,  |c 2007. 
300 |a 1 online resource (510 pages) 
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505 0 |a Cover Page; Title Page; Copyright Page; Contents; Boxes; Tables; Figures; Foreword; Acknowledgments; Abbreviations; 1. Toward a Single Financial Market; Major Achievements, but an Unfinished Agenda; 1.1. Timeline of European Financial Integration Policies; Concepts and Rationale; The Current State of Play; Capital Market Integration and Development; Banking System Integration and Risks; Financial Stability Arrangements; Navigating the Course Ahead; 2. Key Concepts, Benefits, and Risks; What Is Financial Integration?; 2.1. Yield Convergence in EU Financial Markets, 1995-2005. 
505 8 |a 2.2. Spectrum of Financial IntegrationBenefits of European Financial Integration; 2.1. Explaining the United States-Europe Productivity Gap; 2.3. Financial Integration and Its Benefits; Risks of European Financial Integration; 2.4. Financial Integration and Its Risks; 2.1. Alternative Definitions of "Contagion"; 2.2. EU Consumption-Output Correlations; Fostering Integration and Monitoring Financial Risks; 3. Current State of Play; Progress toward Financial Integration; 3.1. Convergence of Euro Area: Interest Rates; 3.2. European Union: Long-Term Government Bond Spreads. 
505 8 |a 3.3. Euro Area: Euro-Denominated Nonfinancial Corporate Bond Issuance3.1. Distribution of European Corporate Bond Issuers by Whole Letter Rating; 3.4. European Securitization; 3.5. Three-Month Interest Rate Future Contracts: Evolution of Open Interest; 3.6. Open Interest: 10-Year Treasury and 10-Year Euro Bund; Financial Integration Policies; 3.2. FSAP: Main Issues in Wholesale Financial Markets and Prudential Supervision; Challenges Ahead; 4. Comparing Europe and the United States; The History of Bank Integration; Structural Characteristics. 
505 8 |a 4.1. Euro Area and United States: Banks and Markets, 20044.2. EU-15 and U.S. Banks: Structural Indicators, 1997-2003; 4.3. EU-15 and U.S. Banks: Indicators of Profitability and Efficiency, 2003; 4.4. EU-15 and U.S. Banking Sector Indicators, 1997-2003; 4.1. Bank Profitability and the Economic Cycle; Productive Efficiency; 4.5. Measures of Cost Efficiency: EU Banks Compared with U.S. Banks, 1997-2003; 4.6. Measures of Revenue Efficiency: EU Banks Compared with U.S. Banks, 1997-2003; Competition; 4.7. Measures of Competition for EU and U.S. Banks (a), 1997-2003. 
505 8 |a 4.8. Measures of Competition for EU and U.S. Banks (b), 1997-20034.9. Measures of Competition for Small EU Banks Compared with Large EU Banks, 1997-2003; Efficiency, Competition, and Financial Market Structure; 4.1. Securitization and the Integration of Local Housing Markets; Conclusions; 5. Equity Market Integration; Recent Market and Policy Developments; 5.1. The Euronext Model: Preserving Local Market Entry with Technical Unification; Measuring Equity Market Integration; 5.1. Dispersion of Euro-Area Stock Market Returns, 1990-2006; 5.2. European Stock Market Performance, 1990-2005. 
500 |a 5.1. Distribution of Monthly European Stock Market Returns, 1990-2005. 
520 |a 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 interpl. 
588 0 |a Print version record. 
504 |a Includes bibliographical references (p. 238-261). 
546 |a English. 
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650 0 |a Finance  |z Europe. 
650 0 |a Capital market  |z Europe. 
650 0 |a Financial institutions  |z Europe. 
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650 7 |a Financial institutions  |2 fast 
650 7 |a International economic integration  |2 fast 
651 7 |a Europe  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39PBJxCxPbbk4CPJDQJb4r6rq 
700 1 |a Fonteyne, Wim. 
700 1 |a Faruqee, Hamid. 
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