Financial Integration in Europe: Effects on Markets and Economic Growth

SERVICES LIBERALISATION IN THE INTERNAL MARKET, F. Breuss, G. Fink, St. Griller, eds., Springer, Wien/New York, 2008

Posted: 19 Oct 2008 Last revised: 27 Oct 2008

See all articles by Andreas Pichler

Andreas Pichler

Vienna University of Economics and Business; voestalpine Stahl Linz GmbH

Katharina Steiner

Oesterreichsiche Nationalbank (OeNB)

Gerhard Fink

Dept of International Business and Trade

Peter R. Haiss

WU Vienna University of Economics and Business; UniCredit Bank Austria; IES Vienna - Institute for the International Education of Students

Date Written: 2008

Abstract

The aim of this chapter is to identify problematic issues of the process of European financial market integration focusing on banking in order to draw lessons for the design of the integration process of other service industries. Particular focus will be put on the implications of the (de)regulation-induced integration, on changing financial market structures, competition and efficiency in EU-15. This is of importance as the perception rises that integration and the single market for financial services per se are the ultimate objective of the EU's integration efforts. But, does the design of the financial integration process promote the growth impact that is needed to achieve the Lisbon economic goal? The value of this chapter lies in merging the law-finance view and the finance-growth nexus. We collect descriptive evidence and combine it with theoretical and empirical research results on financial market integration.

Suggested Citation

Pichler, Andreas and Steiner, Katharina and Fink, Gerhard and Haiss, Peter R., Financial Integration in Europe: Effects on Markets and Economic Growth (2008). SERVICES LIBERALISATION IN THE INTERNAL MARKET, F. Breuss, G. Fink, St. Griller, eds., Springer, Wien/New York, 2008, Available at SSRN: https://ssrn.com/abstract=1285970

Andreas Pichler

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

voestalpine Stahl Linz GmbH ( email )

Austria

Katharina Steiner

Oesterreichsiche Nationalbank (OeNB) ( email )

Otto-Wagner-Platz 3, PO Box 61
Vienna, A-1011
Austria

Gerhard Fink

Dept of International Business and Trade ( email )

Welthandelsplatz 1, Building D1
Wien, 1020
Austria
+43/1/313364331 (Phone)

Peter R. Haiss (Contact Author)

WU Vienna University of Economics and Business ( email )

Institute for Production Management
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Vienna, A-1020
Austria
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UniCredit Bank Austria ( email )

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++43-(0)50505 89 44214 (Fax)

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