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Introduction

In: The Future of Financial Markets

Author

Listed:
  • David G. Mayes

    (Bank of Finland
    London South Bank University
    University of Stirling)

  • Iftekhar Hasan
  • Timo Iivarinen
  • Karlo Kauko
  • Kari Kemppainen
  • Tanai Khiaonarong
  • Kari Korhonen
  • Harry Leinonen
  • Markku Malkamäki
  • Alistair Milne
  • Kirsi Ripatti
  • Heiko Schmiedel
  • Oz Shy
  • Juha Tarkka
  • Jukka Topi

Abstract

Three features characterise the development of financial markets over recent years: rapid growth, integration among countries and technological change. They seem set to characterise the future for some time to come as well. In Europe, there has been a deliberate attempt to unify markets mainly through the efforts of the EU authorities. This attempt has two main facets. The first tries to remove the barriers that exist as a result of different national administrations having designed systems with their own interests in mind. The second is more positive and involves deliberately trying to harmonise systems so that there can be a single market, for example, with the attempt to create a Single European Payments Area (SEPA)1 and, most obviously, with the introduction of the euro. However, in the case of financial markets, regulatory concerns mesh with technological change.

Suggested Citation

  • David G. Mayes & Iftekhar Hasan & Timo Iivarinen & Karlo Kauko & Kari Kemppainen & Tanai Khiaonarong & Kari Korhonen & Harry Leinonen & Markku Malkamäki & Alistair Milne & Kirsi Ripatti & Heiko Schmie, 2006. "Introduction," Palgrave Macmillan Books, in: The Future of Financial Markets, chapter 1, pages 1-11, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-21231-2_1
    DOI: 10.1057/9780230212312_1
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    Cited by:

    1. Belso-Martinez, Jose A. & Molina-Morales, F. Xavier & Mas-Verdu, Francisco, 2013. "Combining effects of internal resources, entrepreneur characteristics and KIS on new firms," Journal of Business Research, Elsevier, vol. 66(10), pages 2079-2089.

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