Convergencia, integración y competencia en los mercados financieros europeos
[Convergence, integration and competition in the European financial markets]
AbstractThe aim of this paper is to analyze the process of integration and competition in European financial markets. We explore the obstacles or barriers which hinder this process, as well as the main drivers and initiatives which have been implemented to move financial integration forward. According to most of the evidence on this subject, the process of financial integration has indeed advanced, but the process is slow and far from having been achieved in many areas of financial activity, in particular, retail markets. Regarding competition, the evidence is not so conclusive. The fact is that although absolute margins have been narrowed, relative margins – as an indicator of market power - have increased. The different kinds of barriers (fiscal, regulatory, institutional, etc) which protect national markets from foreign competition are the main obstacles to this process of integration and competition.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15889.
Date of creation: 2004
Date of revision: 2004
Convergence; integration; competition; financial markets;
Find related papers by JEL classification:
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
- G20 - Financial Economics - - Financial Institutions and Services - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Maudos, Joaquin & Fernandez de Guevara, Juan, 2004.
"Factors explaining the interest margin in the banking sectors of the European Union,"
Journal of Banking & Finance,
Elsevier, vol. 28(9), pages 2259-2281, September.
- Maudos, Joaquin & Fernandez de Guevara, Juan, 2003. "Factors Explaining the Interest Margin in the Banking Sectors of the European Union," MPRA Paper 15252, University Library of Munich, Germany.
- Beckmann, Rainer & Eppendorfer, Carsten & Neimke, Markus, 2002. "Financial integration within the European Union: Towards a single market for insurance," MPRA Paper 5280, University Library of Munich, Germany.
- Inês Cabral & Frank Dierick & Jukka Vesala, 2002. "Banking integration in the euro area," Occasional Paper Series 06, European Central Bank.
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