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Financial Regulation and EMU

Author

Listed:
  • Rossi, Giovanni

Abstract

Most of the comments of the Maastricht Treaty deal with macroeconomic aspects. To be less often cited, the regulatory and prudential aspects are nonetheless essential. The monetary union will indeed introduce an interdependence of the payment systems, which will result in a globalization of the risk and the appearance of external effects. In this context, the different national regulations take on a public good character at European level, with important consequences for the effectiveness of coordination mechanisms. These are the aspects that the article discusses in detail.

Suggested Citation

  • Rossi, Giovanni, 1997. "Financial Regulation and EMU," MPRA Paper 89775, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:89775
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    References listed on IDEAS

    as
    1. Kirrane, Chris, 1996. "Maastricht and Monetary Cooperation," MPRA Paper 88999, University Library of Munich, Germany.
    2. Jean-Jacques Laffont & Jean Tirole, 1991. "The Politics of Government Decision-Making: A Theory of Regulatory Capture," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1089-1127.
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    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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