Political Economy of Financial Integration in Europe

by Story, Jonathan; Walter, Ingo

• ISBN13: 9780262692038
• ISBN10: 0262692031
• Format: Paperback
• Copyright: 1997-09-01
• Publisher: Mit Pr

Summary

Few aspects of the great European integration project have been as difficult and fraught with political conflict as the creation of a single financial market and monetary union. It is clear, however, that monetary union and financial integration are now on the front-burner in Europe, and will remain so until at least the year 2000. This timely volume traces the political, financial, and economic steps toward financial union in Europe, focusing on the political economy of the process-notably the dynamics of a Europe of sovereign states. It is the first integrated view of the issue, combining political, economic, and financial perspectives. Authoritative, comprehensive, and accessible, the volume is essential reading for students, researchers, policy makers, journalists, and anyone who needs to know about financial integration in Europe.

Table of Contents

List of figures and tables
Preface and acknowledgements
List of abbreviations
European diplomacy, institutions and the Financial Area	p. 1
Politics and economics of European macroeconomic convergence	p. 32
The EU in search of union	p. 75
Financial system benchmarks: efficiency, stability and competitive performance	p. 105
Financial structure and corporate control	p. 136
The politics and markets of German financial services	p. 162
The politics and markets of French financial services	p. 189
The politics and markets of UK financial services	p. 224
Building the European Financial Area	p. 250
The battle of the systems	p. 275
Epilogue	p. 313
Index	p. 326
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