The Incomplete European Market for Financial Services: with 54 figures and 52 tables

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Springer Science & Business Media, 2003 M02 3 - 255 pages
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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.

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Selected pages


Towards a Single Market for Insurance
Financial Integration in Europe and Banking Sector Performance
Market Access Strategies in the EU Banking Sector Obstacles and Benefits Towards an Integrated European Retail Market
The Benefits of Creating an Integrated EU Market for Investment Funds
Integration Benefits on EU Retail Credit Markets Evidence from Interest Rate PassThrough
How Integrated Are the European Retail Financial Markets? A Cointegration Analysis
Integration of the European Market for EFinance Evidence from Online Brokerage
Benefits of Diversification and Integration for International Equity and Bond Portfolios
Theoretical Considerations and Empirical Evaluation of Growth and Employment Benefits
Supervising the European Financial System

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