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Deepening European Financial Integration: Theoretical Considerations and Empirical Evaluation of Growth and Employment Benefits

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The Incomplete European Market for Financial Services

Part of the book series: ZEW Economic Studies ((ZEW,volume 19))

Abstract

This paper analyses the macroeconomic effects of further integration in the European markets for financial services. In particular we are interested in growth and unemployment benefits of the reduction and abolition of cross-border barriers impeding the entry into the market of banking and insurance products. Usually, it is argued that facilitating the entry of foreign financial firms into the local market intensifies competition, improves efficiency, and increases the quality of the financial infrastructure. As such, foreign firms can be seen as an important catalyst for the sort of financial development that promotes growth.

Article FootNote

Acknowledgement:The authors have benefited from comments of Prof. Dieter Bender, Friedrich Heinemann, Claudia Buch and other seminar partipants at the ZEW, Mannheim and the Institut für Weltwitrtshaft(IfW,Kiel). We would also like to thank Inka Schöwe for technical assistance.

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Author information

Authors and Affiliations

  1. Ruhr-University Bochum, Germany

    Markus Neimke, Carsten Eppendorfer & Rainer Beckmann

Authors
  1. Markus Neimke
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  2. Carsten Eppendorfer
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  3. Rainer Beckmann
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Editor information

Editors and Affiliations

  1. Avenue de l’Yser 8, Brussels, 1040, Belgium

    Paolo Cecchini

  2. ZEW, L7, 1, Mannheim, 68161, Germany

    Friedrich Heinemann

  3. Institut für Europäische Politik, Bundesallee 22, Berlin, 10717, Germany

    Mathias Jopp

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Neimke, M., Eppendorfer, C., Beckmann, R. (2003). Deepening European Financial Integration: Theoretical Considerations and Empirical Evaluation of Growth and Employment Benefits. In: Cecchini, P., Heinemann, F., Jopp, M. (eds) The Incomplete European Market for Financial Services. ZEW Economic Studies, vol 19. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-57364-4_9

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  • DOI: https://doi.org/10.1007/978-3-642-57364-4_9

  • Publisher Name: Physica, Heidelberg

  • Print ISBN: 978-3-7908-0013-5

  • Online ISBN: 978-3-642-57364-4

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