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Financial integration and innovation in Europe

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  • Ernst Baltensperger
  • Andrea Behrends

Abstract

The creation of an internal market for financial services by the European Union, along with technological changes in communications and data management, will have a strong impact on banking and financial markets in Europe. This paper presents a selective review of discussions concerning the resulting processes of adjustment and their outcomes. Topics covered include effects on cost efficiency, competition production and trade patterns, and the dynamics of financial regulation in the open, integrated economy. Copyright Kluwer Academic Publishers 1994

Suggested Citation

  • Ernst Baltensperger & Andrea Behrends, 1994. "Financial integration and innovation in Europe," Open Economies Review, Springer, vol. 5(3), pages 289-301, July.
    • Handle: RePEc:kap:openec:v:5:y:1994:i:3:p:289-301
    DOI: 10.1007/BF01000914
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    References listed on IDEAS

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    1. Marco Pagano, 1989. "Endogenous Market Thinness and Stock Price Volatility," Review of Economic Studies, Oxford University Press, vol. 56(2), pages 269-287.
    2. Portes,, 1987. "Threats to International Financial Stability," Cambridge Books, Cambridge University Press, number 9780521347891.
    3. Vives, Xavier, 1991. "Regulatory reform in European banking," European Economic Review, Elsevier, vol. 35(2-3), pages 505-515, April.
    4. Berger, Allen N. & Hanweck, Gerald A. & Humphrey, David B., 1987. "Competitive viability in banking : Scale, scope, and product mix economies," Journal of Monetary Economics, Elsevier, vol. 20(3), pages 501-520, December.
    5. Edward J. Kane, 1991. "Financial Regulation and Market Forces," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 127(III), pages 325-342, September.
    6. Gehrig, Thomas, 1998. "Competing markets," European Economic Review, Elsevier, vol. 42(2), pages 277-310, February.
    7. Neven, Damien J, 1989. "Structural Adjustment in European Retail Banking: Some Views from Industrial Organisation," CEPR Discussion Papers 311, C.E.P.R. Discussion Papers.
    8. Vives, Xavier, 1990. "Banking Competition and European Integration," CEPR Discussion Papers 373, C.E.P.R. Discussion Papers.
    9. David B. Humphrey, 1987. "Cost dispersion and the measurement of economies in banking," Economic Review, Federal Reserve Bank of Richmond, vol. 73(May), pages 24-38.
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    Cited by:

    1. Anthony M. Santomero, 1997. "Deposit Insurance: Do We Need It and Why?," Center for Financial Institutions Working Papers 97-35, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Carmine DiNoia, 1994. "Structuring Deposit Insurance in Europe: Some Considerations and a Regulatory Game," Center for Financial Institutions Working Papers 94-31, Wharton School Center for Financial Institutions, University of Pennsylvania.

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