Handbook of European Financial Markets and Institutions

by Freixas, Xavier; Hartmann, Philipp; Mayer, Colin

• ISBN13: 9780199229956
• ISBN10: 0199229953
• Format: Hardcover
• Copyright: 2008-03-01
• Publisher: Oxford University Press

Summary

The development and integration of financial markets is at the forefront of academic and policy debates around the world. Nowhere is this more in evidence than in Europe where the integration of financial markets is a primary objective of the European Commission and fully supported by theEuropean Central Bank. This book brings together leading economists from across the world to analyse the central issues in the development and integration of financial markets from a European perspective whilst highlighting their global relevance. The book is a timely contribution as it appears ata time when the effects of monetary unification on the one hand and the Financial Sector Action Plan on the other are beginning to shape a new pan European financial market.Financial Markets and Institutions is a must-have reference for policymakers, financial market practitioners, and graduate students and academics with an interest in this increasingly important area. Each contribution is written in a rigorous but non-technical fashion, drawing on the latesttheories and empirical evidence making them accessible to lay readers as well as academic specialists.

Author Biography

Xavier Freixas, (Ph D. Toulouse 1978) is Dean of the Undergraduate School of Economics and Business Administration, Professor at the Universitat Pompeu Fabra in Barcelona (Spain) and Research Fellow at CEPR. He is also Chairman of the Risk Based Regulation Program of the Global Association of Risk Professionals (GARP).
He is past president of the European Finance Association and has previously been Deutsche Bank Professor of European Financial Integration at Oxford University, Houblon Norman Senior Fellow of the Bank of England and Joint Executive Director Fundacion de Estudios de Economia Aplicada FEDEA), 1989-1991, Professor at Montpellier and Toulouse Universities.
Dr. Philipp Hartmann is Head of the Financial Research Division in the Directorate General Research of the European Central Bank (ECB) in Frankfurt. His previous positions include that of Principal of the Economic and Financial Research Unit at the ECB and Research Fellow for Financial Regulation at the London School of Economics and Political Science. Philipp Hartmann is also a Fellow of the Centre for Economic Policy Research (CEPR, London) and the Vice-President of SUERF, the European Money and Finance Forum.
Professor Colin Mayer is Dean of the Said Business School and Professorial Fellow of St Edmund Hall, Oxford. He has degrees in Engineering Science and Economics (BA, First Class, 1974) and Economics (MPhil, 1976; DPhil, 1981) from the University of Oxford. He was a Harkness Fellow at Harvard University (1979/80), a Houblon-Norman Fellow at the Bank of England (1989) and the first Leo Goldschmidt Visiting Professor in Corporate Governance at the Solvay Business School, Universite Libre de Bruxelles (2000 and 2001). He is a member of the Executive Committee of the Royal Economic Society, and an Inaugural Fellow and Board Member of the European Corporate Governance Institute (ECGI) in Brussels. Colin Mayer has previously been Chairman of the European Science Foundation Network in Financial Markets and Co-Director of the Centre for Economic Policy Research's Network in Financial Markets. He is Chairman of OXERA Holdings Ltd and an Honorary Fellow of St. Anne's College and Oriel College, Oxford.

Table of Contents

Preface

Foreword, Alexandre Lamfalussy

Introduction

Financial Systems and Economic Performance

Financial Structure and Corporate Governance in Europe, the US, and Asia

Finance and Growth: A Macroeconomic Assessment of the Evidence from a European Angle

Interaction Effects in the Relationship Between Growth and Finance

The Role of Financial Markets and Innovation for Prodcutivity and Growth in Europe

Measuring European Financial Integration

Financial Integration and Economic Welfare

Financial Systems and the Corporate Sector

Corporate Finance in Europe: A Survery

The Economics of the EU's Corporate-insolvency Law and the Quest for Harminisation

Takeovers

Recent Developments in Corporate Governance

The Development and Performance of European Private Equity

Financial Institutions

Technology, Regulation, and the Geographical Scope of Banking

Asset Management in Europe

Pension Funds and the Evolution of Financial Markets in the European Union

Insurance and Reinsurance Companies

European Integration of Payments Systems

Financial Markets

The Euro Money Markets

The European Bond Markets Under EMU

Equity Returns and Integration: Is Europe Changing?

Post-Trading Services and European Securities Markets

Derivative Markets

Structured Finance

Location and Competition Between Financial Centers

Financial Regulation and Macroeconomic Policy

EU Securities Markets Regulation: Problems, Policies, and Processes

The Supervision of an Integrating European Banking Sector: Theory, Practice and Challenges

Bank Regulation and Macroeconomic Fluctuations

Financial Structure and Monetary Transmission in the EMU

Monetary Policy Implementation

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