Capital Markets Union and Beyond
Capital Markets Union and Beyond

Author: Franklin Allen

Publisher: MIT Press

Published: 2024-03-12

Total Pages: 391

ISBN-13: 0262551489

DOWNLOAD EBOOK

Experts from economics, finance, law, policy, and banking discuss the design and implementation of a future capital market union in Europe. The plan for further development of Europe's economic and monetary union foresees the creation of a capital market union (CMU)—a single market for capital in the entire Eurozone. The need for citizens and firms of all European countries to have access to funding, together with the pressure to improve the efficiency and risk-sharing opportunities of the financial system in general, put the CMU among the top priorities on the Eurozone's agenda. In this volume, leading academics in economics, finance, and law, along with policy makers and practitioners, discuss the design and implementation of a future CMU. Contributors describe the key design challenges of the CMU; specific opportunities and obstacles for reaching the CMU's goals of increasing the economic well-being of households and the profitability and viability of firms; the role that markets—from the latest fintech developments to traditional equity markets—can play in the future success of CMU; and the institutional framework needed for CMU in the aftermath of the global recession. Contributors Sumit Agarwal, Franklin Allen, Valentina Allotti, Gene Amromin, John Armour, Geert Bekaert, Itzhak Ben-David, Marcello Bianchi, Lorenzo Bini-Smaghi, Claudio Borio, Franziska Bremus, Marina Brogi, Claudia M. Buch, Giacomo Calzolari, Souphala Chomsisengphet, Luca Enriques, Douglas D. Evanoff, Ester Faia, Eilis Ferran, Jeffrey N. Gordon, Michael Haliassos, Campbell R. Harvey, Kathryn Judge, Suzanne Kalss, Valentina Lagasio, Katya Langenbucher, Christian T. Lundblad, Massimo Marchesi, Alexander Michaelides, Stefano Micossi, Emanuel Moench, Mario Nava, Giorgio Barba Navaretti, Giovanna Nicodano, Gianmarco Ottaviano, Marco Pagano, Monica Paiella, Lubos Pastor, Alain Pietrancosta, Richard Portes, Alberto Franco Pozzolo, Stephan Siegel, Wolfe-Georg Ringe, Diego Valiante

Capital Markets Union and Beyond
Capital Markets Union and Beyond

Author: Franklin Allen

Publisher: MIT Press

Published: 2019-12-10

Total Pages: 391

ISBN-13: 0262042762

DOWNLOAD EBOOK

Experts from economics, finance, law, policy, and banking discuss the design and implementation of a future capital market union in Europe. The plan for further development of Europe's economic and monetary union foresees the creation of a capital market union (CMU)—a single market for capital in the entire Eurozone. The need for citizens and firms of all European countries to have access to funding, together with the pressure to improve the efficiency and risk-sharing opportunities of the financial system in general, put the CMU among the top priorities on the Eurozone's agenda. In this volume, leading academics in economics, finance, and law, along with policy makers and practitioners, discuss the design and implementation of a future CMU. Contributors describe the key design challenges of the CMU; specific opportunities and obstacles for reaching the CMU's goals of increasing the economic well-being of households and the profitability and viability of firms; the role that markets—from the latest fintech developments to traditional equity markets—can play in the future success of CMU; and the institutional framework needed for CMU in the aftermath of the global recession. Contributors Sumit Agarwal, Franklin Allen, Valentina Allotti, Gene Amromin, John Armour, Geert Bekaert, Itzhak Ben-David, Marcello Bianchi, Lorenzo Bini-Smaghi, Claudio Borio, Franziska Bremus, Marina Brogi, Claudia M. Buch, Giacomo Calzolari, Souphala Chomsisengphet, Luca Enriques, Douglas D. Evanoff, Ester Faia, Eilis Ferran, Jeffrey N. Gordon, Michael Haliassos, Campbell R. Harvey, Kathryn Judge, Suzanne Kalss, Valentina Lagasio, Katya Langenbucher, Christian T. Lundblad, Massimo Marchesi, Alexander Michaelides, Stefano Micossi, Emanuel Moench, Mario Nava, Giorgio Barba Navaretti, Giovanna Nicodano, Gianmarco Ottaviano, Marco Pagano, Monica Paiella, Lubos Pastor, Alain Pietrancosta, Richard Portes, Alberto Franco Pozzolo, Stephan Siegel, Wolfe-Georg Ringe, Diego Valiante

Capital Markets Union in Europe
Capital Markets Union in Europe

Author: Danny Busch

Publisher: Oxford Eu Financial Regulation

Published: 2018

Total Pages: 0

ISBN-13: 9780198813392

DOWNLOAD EBOOK

Capital Markets Union in Europe' analyses the legal and economic aspects of the plans for a Capital Markets Union (CMU) in Europe, which will have a major impact on financial markets and institutions both in the region and beyond.

The Regulation of International Financial Markets
The Regulation of International Financial Markets

Author: Rainer Grote

Publisher: Cambridge University Press

Published: 2006-02-16

Total Pages: 358

ISBN-13: 1139450344

DOWNLOAD EBOOK

International financial relations have become increasingly important for the development of global and national economies. At present these relations are primarily governed by market forces, with little regulatory interference at the international level. In the light of numerous financial crises, this abstinence must be seriously questioned. Starting with an analysis of the regulatory problems at the international level, with only minimal powers entrusted to international organisations, this book develops various possibilities for reform. On the basis of an historical analysis, the book first adopts a comparative approach to national attempts to regulate international financial markets, then outlines the potential of relevant institutions and finally develops a policy perspective. It seeks to provide a framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.

Europe's Untapped Capital Market
Europe's Untapped Capital Market

Author: Diego Valiante

Publisher: Centre for European Policy Studies

Published: 2016

Total Pages: 0

ISBN-13: 9781786600448

DOWNLOAD EBOOK

This book builds on a year-long discussion with a group of academics, policy-makers and industry experts to provide a long-term contribution to the Capital Markets Union project, launched by the European Commission in 2015. It identifies 36 cross-border barriers to capital mar...

Global Capital Markets
Global Capital Markets

Author: Maurice Obstfeld

Publisher: Cambridge University Press

Published: 2004-02-19

Total Pages: 382

ISBN-13: 9780521633178

DOWNLOAD EBOOK

Publisher Description

Intermediation and Beyond
Intermediation and Beyond

Author: Louise Gullifer

Publisher: Bloomsbury Publishing

Published: 2019-01-24

Total Pages: 469

ISBN-13: 1509919937

DOWNLOAD EBOOK

The global shift from the direct holding of securities by investors to the current intermediated holding system raises many important legal issues. These include the impact of the intermediated holding system on the rights of investors, and the enforcement of those rights against intermediaries and issuers. The cross-border nature of many holding patterns adds another layer of complexity to these issues, and reduces legal certainty. Against this, intermediation offers benefits for many investors, including the ability to hold a cross-border portfolio with one intermediary, a reduction in costs and the facilitation of the use of securities in the collateral, repo, and securities lending markets. This book covers a number of legal topics relating to intermediated securities including the history of intermediation, the benefits and problems in the current intermediated holding system, and how future legal and technological developments could help to resolve these problems while retaining the benefits of intermediation. It also examines the possible impact of FinTech on this area, in particular the potential for Blockchain to be used in the issuing, holding and settlement of securities, the extent to which this will solve some of the difficulties that currently exist, and whether the use of Blockchain will create new difficulties that will need to be overcome. This book, which originated in a series of workshops organised by the Commercial Law Centre at Harris Manchester College, Oxford, will appeal to those interested in financial and corporate law, including academics, practitioners, policy makers and students.

The European Economy Since 1945
The European Economy Since 1945

Author: Barry Eichengreen

Publisher: Princeton University Press

Published: 2008-07-21

Total Pages: 521

ISBN-13: 0691138486

DOWNLOAD EBOOK

However, this inheritance of economic and social institutions that was the solution until around 1973--when Europe had to switch from growth based on brute-force investment and the acquisition of known technologies to growth based on increased efficiency and innovation--then became the problem.

Financial Markets (Dis)Integration in a Post-Brexit EU
Financial Markets (Dis)Integration in a Post-Brexit EU

Author: Dieter Pesendorfer

Publisher: Springer Nature

Published: 2020-01-11

Total Pages: 377

ISBN-13: 3030360520

DOWNLOAD EBOOK

The European Union is creating a Financial Union with a European Banking Union and a Capital Markets Union in reaction to lessons learned from incomplete financial markets integration, the Global Financial Crisis and European Sovereign Debt Crisis. This book critically analyses these projects for a more integrated, resilient and sustainable financial system at a time when the United Kingdom as the member state with the most developed capital markets and the leading global and European financial center, the City of London, is leaving the Union. Neoliberal financial globalization and markets integration policies have led to finance-led capitalism that caused the crises. By building on pre-crises integration ideas, the Union revives and expands the reach of capital markets-based financing and shadow banking. The book discusses the consequences of deeper integration and the future of European financial centers advocating an alternative financial markets integration based on theories explaining finacialization and finance-led capitalism.

European Futures
European Futures

Author: Chad Damro

Publisher: Routledge

Published: 2021-03-31

Total Pages: 224

ISBN-13: 1000366340

DOWNLOAD EBOOK

This edited volume explores the opportunities and challenges facing the European Union in the future from different disciplines and assesses the EU’s prospects across various policy areas. Using the European Commission’s 2017 White Paper presenting five different scenarios for the future of Europe to 2050 as an organising framework for analysis and debate, the volume reflects upon the drivers of the EU’s future, including its changing place in an evolving world, a transformed economy and society, heightened threats and concerns about security and borders, and questions of trust and legitimacy. The concluding chapter summarises and compares the findings to determine which of the scenarios is the most instructive to understand and plan European Futures to 2050, and beyond. This book will be of key interest to scholars and students of European integration, EU politics/studies, and more broadly international relations, as well as European policy-makers.