Limit this search to....

Financial Intermediation in Europe 2002 Edition
Contributor(s): Spajic, Luke Drago (Author)
ISBN: 1402070098     ISBN-13: 9781402070099
Publisher: Springer
OUR PRICE:   $104.49  
Product Type: Hardcover - Other Formats
Published: October 2002
Qty:
Annotation: Two items were firmly on the European economic agenda in the 1990s: financial market integration and European monetary union (EMU). The former was supposed to have been achieved via the Single Market Act and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. The book is centred on four key questions:

-What happened to European banking before, during and after the implementation of the Single Market Act?
-From a theoretical perspective, to what do banks owe their existence: what is special about banking, what makes banks tick and why do they matter?
-How does competition in banking unfold: what are the main channels or competitive instruments in the process?
-What are the links between the yield curve and the banking system: how do changes in the term structure of interest rates affect both bank pricing and portfolio allocation?This research explores competition among banks and other financial intermediaries, with specific implications for the asset allocation process and pricing policies in banking. This book provides the foundations for an additional perspective on optimal currency area theory (OCA). The links between financial and monetary integration (via financial intermediation and banking) offer another path towards understanding monetary transmission and, therefore, OCA theory. This study promotes the idea that banking and market imperfections are effectively two sides of the same coin. Financial intermediation, and the economics of banking, merit special consideration - especially in discovering the impact andeffectiveness of financial integration and EMU.
Additional Information
BISAC Categories:
- Business & Economics | Banks & Banking
- Business & Economics | Interest
- Business & Economics | International - General
Dewey: 332.109
LCCN: 2002026732
Physical Information: 0.74" H x 6.3" W x 9.74" (1.18 lbs) 230 pages
Themes:
- Cultural Region - Central Europe
- Cultural Region - Eastern Europe
- Cultural Region - Western Europe
 
Descriptions, Reviews, Etc.
Publisher Description:
Two items were firmly on the European economic agenda in the 1990s: financial market integration and the creation of a common or single currency. The former was supposed to have been achieved in 1992 (via the Single Market Act, with some derogations), and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. 1.1 Financial & Monetary Integration in Europe Up until the mid-1980s, European financial intermediation was, as else- where 'on shore' in the post-war period, broadly characterised by a relatively high degree of diverse regulatory control and with cross-border restrictions (e.g., in the form of exchange controls). This resulted in the administration of interest rates and pegging of prime market yields, as well as restrictions on intermediary specialisation. Hence, it was easy to understand why price c, etition was hardly ever seen. Within this kind of environment, banks and other financial intermediaries (OFIs) competed mainly on non-price terms - for example, through the expansion of branch networks. The Single Market Programme (SMP), l launched in 1986, was in a com- plex way intended to level out and open up the domestic markets of the European Union (EU) to competition from entities in other Member States.