Political economy of financial integration in Europe : the battle of the systems

書誌事項

Political economy of financial integration in Europe : the battle of the systems

Jonathan Story and Ingo Walter

MIT Press, 1997

  • : hbk.
  • : pbk.

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注記

Includes bibliographical references and index

内容説明・目次

巻冊次

: hbk. ISBN 9780262193962

内容説明

Few aspects of the European integration project have been as difficult and fraught with political conflict as the creation of a single financial market and monetary union. In this book, Jonathan Story and Ingo Walter trace the political, financial, and economic steps toward financial union in Europe. They focus on the political economy of the process -- specifically, the dynamics of a Europe of sovereign states reflecting deep-seated differences in ideas about how financial institutions should be organized and regulated, how companies should be governed, what the relationships between financial institutions and nonfinancial firms should be, and what role the state should play in allocating capital and governing corporations. Monetary union, the authors conclude, represents a revolutionary step toward the creation of an integrated financial market that will eventually rival the largest capital market in the world, the United States. Within Europe, it will effectively abolish national capital markets and create a relatively level playing field in finance based on the Anglo-American model of financial intermediation, with major implications for the financial services sector, nonfinancial corporations, and public policy.
巻冊次

: pbk. ISBN 9780262692038

内容説明

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.

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