This report presents a long-term view of the evolution of financing of EU non-financial corporations (NFCs) in recent decades. It finds a decline in NFC leverage since at least 2008, and across countries, size categories and industries. It also documents a growing role of non-bank financial...

This literature review starts with a general discussion of young people and their various activities with special emphasis on youth unemployment and the outcome of alternative ways of measuring the prevalence of unemployment among young people. Thereafter the focus turns to measures targeted at...

In this policy contribution, Bruegel Senior Fellow Nicolas Veron and Stephane Rottier, National Bank of Belgium, score and grade the implementation and follow up of the 47 action items that were outlined in the G20 summit in 2008. This paper complements their policy brief titled 'Not all...

The study assesses the macro-financial situation of Belarus. It analyses the Belarus financial sector, with a specific look at the banking sector. Moreover this study explores the private sector financing environment. In particular the study investigates the SMEs segment and looks at the needs...

The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction of the euro. Significant development in terms of integration took place in both markets in general to a various degree for the different segments. However, there remain room for...

In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...

The recent corporate failures in the US and in Europe have considerably damaged investors’ confidence in the functioning of financial markets and the ability of the regulatory framework to safeguard their interest and prevent fraud. These episodes demonstrate that market failures exist, which...