This paper asks what Capital Markets Union (CMU) means for the future of financial market regulation in the European Union and suggests an answer: the merging of public and private regulation. In the pre-crisis period, public regulation and private regulation of financial markets were separate...

The goal of this study is to identify empirically how country-level development, taking into account the financial and macroeconomic environment, affect the risk profiles of the banking sector in Europe. Through a dataset that covers 3,399 European banks spanning the period 1996-2011, and the...