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Origins and Resolution of Financial Crises; Lessons from the Current and Northern European Crises

Ostrup, Finn; Oxelheim, Lars; Wihlborg, Clas - 2009

financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of … that a financial crisis with its contagion within the system is caused by failures of legal, regulatory and political … crises would be reduced if appropriate institutions could be put in place Lacking appropriate institutions to avoid contagion …

Persistent link: https://www.econbiz.de/10010320249

How has the European Monetary Integration Process Contributed to Regional Financial Market Integration?

Reszat, Beate - 2003

European monetary integration was one element in the process of financial market integration but by far not the only one. The paper traces the development of financial markets and systems in Europe from the beginnings of the euromarkets in the 1950s over early exchange rate arrangements and the...

Persistent link: https://www.econbiz.de/10010295472

Cross-Border Securities Clearing and Settlement Infrastructure in the European Union as a Prerequisite to Financial Markets Integration: Challenges and Perspectives

de Carvalho, Cynthia Hirata - 2004

The importance of an efficient securities clearing and settlement system lies on the safer transfer of ownership of assets against payment. Such a system must be developed in a way to minimize the risks involved on securities transactions, and it must still offer lower costs, which do not hinder...

Persistent link: https://www.econbiz.de/10010295420

Financial Market Integration in a Wider European Union

Stirbu, Corneliu - 2004

EU enlargement rests on the proven success of European unification. European monetary integration and the introduction of euro are probably the best examples of integration. The EU financial sector has been going through a large restructuring program in the last decades. There was a continuous...

Persistent link: https://www.econbiz.de/10010295430

Why Does Sovereign Risk Differ for Domestic and Foreign Investors? Evidence from Scandinavia, 19381948

Waldenström, Daniel - 2006

Recent theoretical models suggest that the costs governments face when defaulting on their domestic and external debt may differ considerably. This paper examines if this proposed cost difference is reflected in sovereign risk spreads across domestic and foreign markets. Specifically, I analyze...

Persistent link: https://www.econbiz.de/10010320163

Sovereign credit ratings, emerging market risk and financial market volatility

Reisen, Helmut; von Maltzan, Julia - 1998

This study has investigated to which extent rating events influence sovereign bond yield spreads and overall financial market volatility. While rating agencies are part and parcel of today's financial markets, the study succeeds in tracing some independent effect that ratings exert on financial...

Persistent link: https://www.econbiz.de/10010295359