Financial Market Integration and Growth

Financial capital, whether mediated through the financial market or Foreign Direct Investment has been a key factor in European economic growth. This book examines the interaction between European and global financial integration and analyses the dynamics of the monetary sector and the real economy in Europe. The key analytical focus is on the theoretical and empirical dynamics of financial markets in Europe, however, it also provides regional case studies of key institutional developments and lessons from foreign direct investment. There is a broad range of findings for Central, Eastern and Western Europe as well as EU Partner Countries. Crucially the analysis includes new approaches and options for solving the transatlantic banking crisis and suggests policy innovations for a world with unstable financial markets.

Analyzes EU financial market integration, trade dynamics, foreign direct Investment, and economic growth; Special focus is on empirical analysis and economic policy issues; Presents new empirical findings for the EU and the global economy; Allows to better understand recent approaches to financial market integration and economic growth in Europe

Auteur
Paul J. J. Welfens, geb. 1957 in Düren, Studium der Volkswirtschaftslehre in Wuppertal, Duisburg und Paris, Promotion 1985, Habilitation1989. Inhaber des Lehrstuhls für Volkswirtschaftslehre - Schwerpunkt Makroökonomische Theorie und Politik an der Bergischen Universität Wuppertal; Präsident des Europäischen Instituts für Internationale Wirtschaftsbeziehungen (EIIW); Jean-Monnet-Professor für Europäische Wirtschaftsintegration; zuvor Distinguished Research Fellow am AICGS/The Johns Hopkins University, Professor an der Universität Münster bzw. Potsdam, Visiting Alfred Grosser Professor Sciences Po, Paris.

Contenu
Introduction.- The Role of Banks in Financial Integration: Some New Theory and Evidence from New EU Members.- Interdependence Between Foreign Exchange Markets and Stock Markets in Selected European Countries.- The Transatlantic Banking Crisis: Lessons, EU Reforms and G20 Issues.- Financial System and Innovations: Determinants of Early Stage Venture Capital in Europe.- Evolving Corporate Financing Patterns in Europe: Is There Convergence?- The Financial System in Spain and Portugal: Institutions and Structure of the Market.- Corporate Governance and the "Hybridisation" of Financial Sectors.- Different Modes of Foreign Direct Investment in Ireland - A Theoretical Analysis.- Aspects of Market Integration in a Transition Economy.- Trade and FDI Related Effects of the Monetary Union and Structural Adjustment in the Central European New Member States of the EU.