Financial integration is the process that has been occurring in the European Union for many years and that intensified after adoption of the common currency in 1999. This paper discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and...

Towards the goal to gather a better understanding of the banking structure and the regulatory practices in place, the Working Group on Financial Services in the Euro-Mediterranean Partnership developed a survey. This survey is based on a questionnaire which was addressed to the States of the...

This work investigates the systemic factors behind cross-country variability in the transnational media coverage of foreign news in the EU in 2010. Using a large dataset on the transnational coverage of news by 148 EU national media, the paper maps the network of EU transnational citations and...

Any discussion on improving the existing arrangements for assessing and managing financial risks and in particular supervising the relevant institutions will also need to address the question on which institution should be responsible for which task and for which sector of the financial system,...

This article provides an overview of major theoretical concepts behind the process of European economic integration. At first, the classic theory of customs unions as formulated by Viner, Meade and others is explained taking also into account factor mobility in a customs union in the move...

The sovereign debt crisis that deepened within the last three years in particular Eurozone countries makes up one of the major components of the current global economic crisis (2006-2011) which were briefly described in Kibritçioğlu (2011). In this follow-up study, the historical and political...

The Financial Services Action Plan (FSAP) of the European Commission intends to create an open, secure, integrated financial market across EU member countries. Although recent research has shown a positive impact of the FSAP directives on cross-border lending and industrial growth, the effect on...

This paper analyzes the growth effects of the Financial Services Action Plan (FSAP) of the European Commission, a set of measures and directives that aim to harmonize European financial markets. Using a panel of 25 countries and 30 industries, we find that the standard specification predicts...

In the aftermath of the Lehman Brothers collapse, Germany's insistence that each country was to defend its banking system on its own rather than by the European Union acting jointly, is what triggered the euro crisis. This is because it made it inevitable that the weakest countries with the...

This paper estimates the exchange market pressure (EMP) in four Central European countries (Czech Republic, Hungary, Poland, Slovakia) over the period 1993-2006. Therefore, it is one of very few studies focused on this region and the very first paper applying concurrently model-dependent as well...