منابع مشابه
Financial Integration and EMU
This paper investigates the effect of European Monetary Union on the integration of the financial services industry within European using data on the announcements of M&A’s within the industry. We find some evidence that EMU has helped financial integration within the euro area. In addition, financial institutions in EMU countries became more active in initiating integration between EMU and non...
متن کاملEMU-related News and Financial Markets in the Czech Republic, Hungary and Poland
We analyse the impact of news on five financial markets in the Czech Republic, Hungary and Poland using a newly constructed data set in a GARCH framework. Macroeconomic shocks (on GDP, inflation rate, current account and trade balance) are constructed as deviations from expected values. EMU-related political and fiscal news is captured as news dummies. Macroeconomic shocks significantly affect ...
متن کامل‘does Size Matter?’ Financial Restructuring under Emu
This paper examines the main structural and performance features of European banking. It shows that while banking markets have become increasingly concentrated and bank numbers have fallen, competition appears to have intensified. Given the large number of banks and branches in many countries there still remain indicators of excess capacity in the system and that the consolidation trend, especi...
متن کاملMathematics of Financial Markets
Mathematical finance is a child of the 20th century. It was born on 29 March 1900 with the presentation of Louis Bachelier’s doctoral dissertation Théorie de la speculation [1]. Now, one hundred years later, it is the basis of a huge industry, at the centre of modern global economic development, and the source of a great deal of interesting mathematics. Further, the theory and applications have...
متن کاملPENSION FUND REFORM AND EUROPEAN FINANCIAL MARKETS a reappraisal of potential effects in the wake of EMU
Pension reform is widely seen as essential in order to defuse the difficulties EU governments would otherwise face in respect of their social security pension systems in a context of population ageing. Particularly when such reform involves funding of future pensions, it may have radical implications for European financial markets, entailing important changes in the demand for financial assets ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1999
ISSN: 1556-5068
DOI: 10.2139/ssrn.145571