Dermine

European Capital Market with a Single Currency

Herausgeber: Dermine, Jean; Hillion, Pierre

• Gebundenes Buch

Produktbeschreibung

One of the greatest events in financial history will occur in 1999: the birth of the euro and the emergence of a unified European capital market. This is the first academic text to consider the medium term impact of a single currency on these markets. It tackles several key questions: Once the euro is in place, what is likely to change in European capital markets? How is the structure of the bond, equity, and derivative markets going to be affected? Are these markets going to be integrated? Is the disappearence of exchange rate uncertainty going to affect risk premium on the equity and corporate debt markets? Is the euro going to compete with the US dollar, and does this matter? Is the introduction of the euro likely to change the sources of competitive advantages of financial institutions? What are going to be the key factors for success in the industry? The European Capital Markets Institute commissioned a report to address these issues. Drawn from various countries and fields of research - banking, economics, and finance - the contributors analyse the structural effects of the introduction of euro on European capital markets.

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Produktdetails

• Verlag: Hurst & Co.
• Seitenzahl: 376
• Erscheinungstermin: 8. April 1999
• Englisch
• Abmessung: 243mm x 164mm x 28mm
• Gewicht: 635g
• ISBN-13: 9780198295396
• ISBN-10: 0198295391
• Artikelnr.: 21824727

Inhaltsangabe

* Introduction
* 1: Jean Dermine: European Capital Markets: Does the Euro Matter?
* Part I. The Macroeconomics of EMU
* 2: Daniel Gros and Karel Lannoo: EMU, Monetary Policy, and Capital
Markets
* 3: Charles Wyplosz: An International Role for the Euro?
* Part II. The Fixed-Income Markets
* 4: Lars Nielsen: Yield Spreads and Optimal Deby Management under the
Single Currency
* 5: Gordon Delianedis and Pedro Santa Clara: The Exposure of
International Corporate Bond Returns to Exchange Rate Risk
* 6: Alfred Steinherr: European Futures and Options Markets in a Single
Currency Environment
* Part III. The Equity Markets
* 7: Giorgio De Santis, Bruno Gérard, and Pierre Hillion: The Single
European Currency and World Equity Markets
* 8: Bruno Biais: European Stock Markets and European Unification
* Part IV. Strategic Industry Implications
* 9: Ingo Walter: The Asset Management Industry in Europe: Competitive
Structure and Performance under EMU
* 10: Roy Smith: The European Securities Industry under a Single
Currency