There is substantial progress in the integration of European financial markets. However, integration does not mean, that disparities between national systems will totally disappear. Structural pecularities can survive dispite further harmonization. Here we focus on the European banking...

The article examines the effects of two changes of the legal and institutional framework for German banks: the modification of state liabilities for public banks and the reduction of barriers for cross-border transactions. The modification of state guarantees for public banks led to a...

Despite the fact that the last century was characterized by an impressive increase of cross-border capital flows, Japan remained a relatively closed economy up to the late 90s. Only when the "bubble" burst was the impetus given for more rapid opening up of the economy and the closely related...