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Integration of the European market for e-finance: evidence from online brokerage

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  • Schüler, Martin
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    Abstract

    The internet revolution is said to foster integration of the market for financial services, since consumers are able to shop around at all companies worldwide and firms can easily offer their services on the internet at a minimum of distribution cost. However, the European market for online brokerage displays a different picture. Prices paid for online brokerage differ substantially across European countries. Furthermore, almost no direct cross-border activities take place, i.e. online purchases of stocks are almost always done using a domestic direct broker. It turns out that one of the most important obstacles to integration seems to be the preferences of the consumers for domestic providers. The analyses is partially based on a survey among leading European online brokers. --

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    Bibliographic Info

    Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 02-24.

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    Date of creation: 2002
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    Handle: RePEc:zbw:zewdip:873

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    Related research

    Keywords: E-Finance; Financial Market Integration; European Union;

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    References

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    1. Stijn Claessens & Thomas Glaessner & Daniela Klingebiel, 2002. "Electronic Finance: Reshaping the Financial Landscape Around the World," Journal of Financial Services Research, Springer, vol. 22(1), pages 29-61, August.
    2. Edward E. Leamer & Michael Storper, 2001. "The Economic Geography of the Internet Age," NBER Working Papers 8450, National Bureau of Economic Research, Inc.
    3. Claudia M. Buch, 2000. "Financial Market Integration in the US: Lessons for Europe?," Kiel Working Papers 1004, Kiel Institute for the World Economy.
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    Cited by:
    1. Heinemann, Friedrich & Schüler, Martin, 2002. "How integrated are the European retail financial markets? A cointegration analysis," ZEW Discussion Papers 02-22, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    2. 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.
    3. Beckmann, Rainer & Eppendorfer, Carsten & Neimke, Markus, 2002. "Market Access Strategies in the EU Banking Sector - Obstacles and Benefits towards an integrated European Retail Market," MPRA Paper 5273, University Library of Munich, Germany.

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