Financial Integration in the European Union

Financial Integration in the European Union

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Description

This edited collection assesses the level of financial integration in the European Union (EU) and the differences across the countries and segments of the EU financial system. Progress in financial integration is key to the EU's economic growth and competitiveness and although it has advanced substantially, the process is still far from completion. This book focuses on the pace of financial integration in the EU with special emphasis on the new EU Member States and investigates their progress in comparison with 'old' EU countries. The book is the first of its kind to include and evaluate the effects of the global financial crisis on the process of EU financial integration. In particular, the book's contributors address the issue of whether a high degree of financial integration contributed to the intensification of the financial crisis, or whether a low level of integration prevented countries and financial industries from some of the negative effects of the crisis. Although most of the chapters apply contemporary econometric tools, the technical part is always reduced to indispensable minimum and the emphasis is given to economic interpretation of the results. The book aims to offer an up to date and insightful examination of the process of financial integration in the EU today.show more

Product details

  • Paperback | 296 pages
  • 154 x 233 x 24mm | 427.99g
  • Taylor & Francis Ltd
  • ROUTLEDGE
  • London, United Kingdom
  • English
  • Reprint
  • 144 black & white illustrations, 69 black & white tables, 144 black & white line drawings
  • 1138808385
  • 9781138808386

About Roman Matousek

Roman Matousek is Professor of Finance and Director at the Centre for EMEA Banking, Finance & Economics at London Metropolitan Business School, UK. Daniel Stavarek is Associate Professor of International Finance and Head of the Department of Finance at Silesian University, School of Business Administration in Karvina, Czech Republic.show more

Table of contents

1. Theory of Financial Integration and Achievements in the European Union Daniel Stavarek, Iveta Repkova and Katarina Gajdosova 2. Financial Integration at Times of Financial Instability Jan Babecky, Lubos Komarek and Zlatuse Komarkova 3. Integration of Financial Markets in the European Union: Regulation and Supervision Framework Stanislav Poloucek 4. National and Sectoral Integration of Chinese and Russian Stock Market with World Markets Jan Babecky, Lubos Komarek and Zlatuse Komarkova 5. Integration of Credit Markets in the Visegrad Countries with the Euro Area Pavla Vodova 6. Testing for East-West Contagion in the European Banking Sector During the Financial Crisis Emidio Cocozza and Paolo Piselli 7. European Exchange Rates Volatility and its Asymmetrical Components During the Financial Crisis Daniel Stavarek 8. Interesting Findings About Risk Estimation and Backtesting at European FX Rate Market Gabriela Cielepova and Tomas Tichy 9. Determinants of the Exchange Market Pressure in the Euro-Candidate Countries Daniel Stavarek 10. European Tax Harmonization and the Effects of Tax Changes on Economic Growth Irena Szarowskashow more