The paper empirically analyzes asymmetries in the EMS with special reference to their implication for the creation of a monetary union (EMU). Two types of asymmetries are analyzed: those in the form of "German dominance" are detected in the conduct of monetary policies in the EMS, in particular...

This paper analyzes the impact of deregulation and market integration policies on the structure of European banking markets. It argues that whether European integration will lead to large increases in EU-wide concentration will depend on the extent to which competition in banking is based on...

Russia is the world's biggest natural gas producer, with output of 581 bn m3 in 2001, and is also a key supplier of the European gas market (around 30% of current EU gas imports). Therefore gas exports rank with oil exports as an essential variable of Russian economic policy, and any...

Russia is the world's biggest natural gas producer, with output of 581 bn m3 in 2001, and is also a key supplier of the European gas market (around 30% of current EU gas imports). Therefore gas exports rank with oil exports as an essential variable of Russian economic policy, and...

La Russie, le premier producteur mondial de gaz avec 581 milliards de m3 en 2001 est aussi un fournisseur essentiel du marché gazier européen (30% environs des importations actuelles de l'Union européenne). Ainsi, au même titre que le pétrole, les exportations gazières sont une variable...

This paper tries to assess how the current program of European integration will affect the structure of the European retail banking industry. It is argued that trade in banking services is, and will presumably remain, limited, while there is still concern about possible trade diversion. Next, we...