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The Incomplete European Market for Financial Services

  • Book
  • © 2003

Overview

Editors:
  1. Paolo Cecchini

    1. Brussels, Belgium

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  2. Friedrich Heinemann

    1. ZEW, Mannheim, Germany

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  3. Mathias Jopp

    1. Institut für Europäische Politik, Berlin, Germany

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Part of the book series: ZEW Economic Studies (ZEW, volume 19)

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Table of contents (10 chapters)

  1. Front Matter

    Pages I-XI
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  2. Financial Integration Within the European Union: Towards a Single Market for Insurance

    • Rainer Beckmann, Carsten Eppendorfer, Markus Neimke
    Pages 1-29

  3. Financial Integration in Europe and Banking Sector Performance

    • Claudia M. Buch, Ralph P. Heinrich
    Pages 31-64

  4. Market Access Strategies in the EU Banking Sector — Obstacles and Benefits Towards an Integrated European Retail Market

    • Carsten Eppendorfer, Rainer Beckmann, Markus Neimke
    Pages 65-87

  5. The Benefits of Creating an Integrated EU Market for Investment Funds

    • Friedrich Heinemann
    Pages 89-103

  6. Integration Benefits on EU Retail Credit Markets — Evidence from Interest Rate Pass-Through

    • Friedrich Heinemann, Martin Schüler
    Pages 105-128

  7. How Integrated Are the European Retail Financial Markets? A Cointegration Analysis

    • Martin Schüler, Friedrich Heinemann
    Pages 129-154

  8. Integration of the European Market for E-Finance — Evidence from Online Brokerage

    • Martin Schüler
    Pages 155-177

  9. Benefits of Diversification and Integration for International Equity and Bond Portfolios

    • Michael Schröder
    Pages 179-185

  10. Deepening European Financial Integration: Theoretical Considerations and Empirical Evaluation of Growth and Employment Benefits

    • Markus Neimke, Carsten Eppendorfer, Rainer Beckmann
    Pages 187-229

  11. Supervising the European Financial System

    • Karel Lannoo
    Pages 231-255
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Keywords

About this book

Looking back over the last decade it can be said with some justification that sig­ nificant progress has been achieved on the way towards fully integrated financial markets in Europe. The 1993 Internal Market initiative and the Euro introduction in 1999/2002 constitute important milestones. The integration process has further been intensified by market developments like the surge in mergers and acquisi­ tions and by technological innovations like internet based distribution. As a result, some market segments today do no longer have a national character. Nevertheless, this success should not obscure the fact that integration of financial services markets is still a long way from the level of integration that exists within national markets. Particularly for retail financial services national borders still constitute a considerable de facto barrier. The absence of frequent direct cross­ border links between financial service providers and retail consumers holds true despite the fact that the Euro has made product comparisons easier and that the internet has reduced information costs to a considerable extent.

Editors and Affiliations

  • Brussels, Belgium

    Paolo Cecchini

  • ZEW, Mannheim, Germany

    Friedrich Heinemann

  • Institut für Europäische Politik, Berlin, Germany

    Mathias Jopp

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