Overview

Two items were firmly on the European economic agenda in the 1990s: financial market integration and European monetary union (EMU). The former was supposed to have been achieved via the Single Market Act and the latter came into being on January 1, 1999. This study is concerned with a particular connection between the two themes, namely the process of financial intermediation and especially the role of banking. The book is centred on four key questions: What happened to European banking before, during and after the implementation of the Single Market Act?; from a theoretical perspective, to what do banks owe their existence?; how does competition in banking unfold?; and what are the links between the yield curve and the banking system - how do changes in the term structure of interest rates affect both bank pricing and portfolio allocation? The book explores competition among banks and other financial intermediaries, with specific implications for the asset allocation process and pricing policies in banking. It aims to provide the foundations for an additional perspective on optimal currency area theory (OCA). The links between financial and monetary integration (via financial intermediation and banking) offer another path towards understanding monetary transmission and, therefore, OCA theory. This study promotes the idea that banking and market imperfections are effectively two sides of the same coin. Financial intermediation, and the economics of banking, merit special consideration - especially in discovering the impact and effectiveness of financial integration and EMU.

Full Product Details

Author:   Luke Drago Spajic
Publisher:   Springer-Verlag New York Inc.
Imprint:   Springer-Verlag New York Inc.
Edition:   2002 ed.
Dimensions:   Width: 15.50cm , Height: 1.50cm , Length: 23.50cm
Weight:   1.170kg
ISBN:  

9781402070099

ISBN 10:   1402070098
Pages:   230
Publication Date:   31 October 2002
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

1 Introduction.- 1.1 Financial and Monetary Integration in Europe.- 1.2 Synopsis.- 1.3 Collaborative Research.- 2 Banking under EU Integration.- 2.1 Introduction.- 2.2 The Single Market Programme and EU Banking.- 2.3 Assessing the Impact of Integration on EU Banking.- 2.4 Bank Pricing under Integration.- 2.5 Bank Strategies under Integration.- 2.6 Concluding Remarks.- 3 Theoretical Foundations of Financial Intermediation.- 3.1 The Nature of Financial Intermediation.- 3.2 Connecting the Financial System with the Economy.- 3.3 Modern Theory of Finance and the Problem of Banking.- 3.4 So What Do Banks Do?.- 3.5 Analysing the Bank Balance Sheet.- 3.6 Regulation in Banking.- 3.7 Concluding Remarks.- 4 The Analysis of Competition and Applications to Banking.- 4.1 Introduction.- 4.2 Competition Theory and Applications to Banking.- 4.3 Double Competition in Banking.- 4.4 Problems in the Analysis of Competition in Banking.- 4.5 Concluding Remarks.- 5 Contributions to the Theory of Banking Competition.- 5.1 Introduction.- 5.2 Balance Sheet Segmentation.- 5.3 Regulation of Bank Capital and Balance Sheets.- 5.4 Strategies in Banking Competition.- 5.5 Influences on Bank Pricing.- 5.6 Concluding Remarks.- 6 European Banking Responses to Yield Curve Impulses.- 6.1 Introduction.- 6.2 Connections Between Term Structure and Banking.- 6.3 Banking System Sensitivity to Monetary Policy.- 6.4 Empirical Evidence.- 6.5 Results: Tables and Simulations.- 6.6 Analysis of Results.- 6.7 Concluding Remarks.- 6.8 Appendix: Term Structure as Information About the Economy.- 7 Reflections.- 7.1 Contributors to Financial Economics.- 7.2 Monetary Integration: The View from Banking.- 8 Bibliography.

Reviews

Author Information

Tab Content 6

Author Website:  

Customer Reviews

Recent Reviews

No review item found!

Add your own review!

Countries Available

All regions