After a review of factors such as technology and the related policy toward financial liberalization that has affected financial institutions worldwide, this paper focuses on changes in Continental Europe. We identify and review three driving forces: (a) European integration, (b) the factors that...

This paper addresses convergence of financial products in the U.S. marketplace and the question of how better to regulate an industry offering financial products with overlapping features. This paper examines the various distinct regulatory functions and analyzes whether a more purely functional...

Digital technologies have the potential to modernise the economy. But digital innovations are disruptive. Therefore, policies need to be comprehensive and go beyond the support of the ICT sector as well as address a variety of issues: increasing returns to the use of data, heterogeneity of the...