In the last decade or so, the EU has adopted a number of legislation aimed at liberalising network industries and developing an EU-level regulatory framework for those industries. Against this background, we examine the extent of liberalisation and the nature of market performance in a group of...

The financial crisis exposed dangerous weaknesses in the regulatory and oversight structure that need to be urgently corrected to restore confidence in the financial system and to keep the single market alive. Towards this end, this CEPS Task Force report puts forward three main policy...

The EU financial services industry has experienced an enormous regulatory adaptation over the past decade. The dust that had been thrown up by the 1992 programme had barely settled when a new regulatory programme was announced covering 42 measures that had to be implemented by 2005. Exchange...

Now that the worst of the financial storm is over, regulators are setting new strategies to deal with the systemic importance of the €427 trillion ($604 trillion) over-the-counter (OTC) derivatives market. This paper explores the three major sources of disruptive effects in OTC derivatives:...

Now that the worst of the financial storm is over, regulators are setting new strategies to deal with the systemic importance of the €427 trillion ($604 trillion) over-the-counter (OTC) derivatives market. This paper explores the three major sources of disruptive effects in OTC derivatives:...

In the last two years, the major jurisdictions for equity trading, the U.S. and the E.U., introduced significant reforms in their market structure regulation, following diametrically opposite approaches. While the E.U. effort is deregulatory and decentralized, aiming to facilitate competition...

This paper assesses whether disparities in regional public infrastructure endowments can explain regional disparities in labor productivity among European regions. Using a large sample of European regions, I distinguish the effects of overall infrastructure endowment from the effect of three...

In spite of the major expense of improving the Eastern European telecommunications infrastructure - - hundreds of billions of dollars over at least a decade - - academic networks provide an interim capability for researchers that is quite promising. Since Western European nations have been...

The paper attempts to apply a broad range of economic concepts to the Internet. Externalities associated with the net are defined and some attempt is made to measure them. The affect of the market power (oligopoly power) of some of the producers and consumers in the Internet "industry" is given...

In this paper we analyse institutional issues of common interest to the National Regulatory Authorities (NRAs) and the European Agencies (EAs) created under the impulsion of EC law. Both sets of bodies are examined through the lenses of three institutional regulatory parameters, i.e. (i) the...