Financial Conditions in Europe: Dynamics, Drivers, and Macroeconomic Implications

Financial Conditions in Europe: Dynamics, Drivers, and Macroeconomic Implications
Author: Giovanni Borraccia
Publisher: International Monetary Fund
Total Pages: 58
Release: 2023-09-29
Genre: Business & Economics
ISBN:

We develop a new measure of financial conditions (FCs) that targets the growth of financial liabilities using the partial least square methodology. We then estimate financial condition indexes (FCIs) across European economies, both at the aggregate and sectoral levels. We decompose the changes in FCs into several factors including credit availability and costs, price of risk, policy stance, and funding constraints. Our results show that FCs loosened during the pandemic thanks to policy support but started to tighten significantly since mid-2021. Using the inverse probability weighting method over the sample period from 2000 to 2023, we find that a shift from a neutral to a tight FCI regime such as the ongoing episode for most European countries will on average lower output and inflation by 2.2 percent and 0.7 percentage points respectively and increase unemployment by 0.3 percentage points over a three-year horizon.

The Global Findex Database 2017

The Global Findex Database 2017
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
Total Pages: 228
Release: 2018-04-19
Genre: Business & Economics
ISBN: 1464812683

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

European Financial Regulation

European Financial Regulation
Author: Veerle Colaert
Publisher: Bloomsbury Publishing
Total Pages: 587
Release: 2019-12-26
Genre: Law
ISBN: 150992647X

Mirroring the long-established structure of the financial industry, EU financial regulation as we know it today approaches banking, insurance and investment services separately and often divergently. In recent decades however, the clear separation between financial sectors has gradually evaporated, as business lines have converged across sectors and FinTech solutions have emerged which do not fit traditional sector boundaries. As the contours of the traditional tripartition in the financial industry have faded, the diverging regulatory and supervisory treatment of these sectors has become increasingly at odds with economic reality. This book brings together insights developed by distinguished researchers and industry professionals in a series of articles analysing the main areas of EU financial regulation from a cross-sectoral perspective. For each specific research theme – including prudential regulation, corporate governance and conduct of business rules – the similarities, as well as gaps, overlaps and unjustifiable differences between banking, securities and insurance regulation, are clearly presented and discussed. This innovative research approach is aimed at informing lawmakers and policymakers on potential improvements to EU financial regulation whilst also supporting legal and compliance professionals applying the current framework or looking to streamline compliance processes.

Banking Stability and Financial Conglomerates in European Emerging Countries

Banking Stability and Financial Conglomerates in European Emerging Countries
Author: Pavla Klepková Vodová
Publisher: Cambridge University Press
Total Pages: 130
Release: 2023-01-31
Genre: Business & Economics
ISBN: 1009090259

This Element focuses on the specific role of financial conglomerates in managing banking and financial stability. The Element aims to estimate financial stability in CEE using the constructed aggregate financial stability index, to incorporate the financial stability of the parent company into the index, and to assess the effect of the parent company on the financial stability of commercial banks and national financial sectors.

European Financial Markets and Institutions

European Financial Markets and Institutions
Author: Jakob de Haan
Publisher: Cambridge University Press
Total Pages: 439
Release: 2009-01-15
Genre: Business & Economics
ISBN: 0521882990

Written for undergraduate and graduate students, this textbook provides a fresh analysis of the European financial system.

New Contributions to Transportation Analysis in Europe

New Contributions to Transportation Analysis in Europe
Author: Michel Beuthe
Publisher: Routledge
Total Pages: 321
Release: 2018-10-11
Genre: Business & Economics
ISBN: 0429806485

First published in 1999, this volume responded to the drastic fluctuations in policy changes within the European Union and explored the potential for the various transportation framework programmes financed by the European Commission. The contributors offer an array of recent advances in transportation with a particular focus on Europe. Areas explored include sustainability, multimodal transport policy, freight transport services, transport telematics, regionalism, transalpine freight transport, just-in-time production and the integration of strategic infrastructure networks in Europe.

EU Regulation and Transatlantic Trade

EU Regulation and Transatlantic Trade
Author: Sebastiaan Princen
Publisher: Kluwer Law International B.V.
Total Pages: 448
Release: 2002-08-28
Genre: Law
ISBN: 9041118713

1. Introduction and research problem -- 2. A theoretical framework -- 3. The European leghold trap regulation -- 4. The European ban on the use of growth-hormones in meat production -- 5. Genetically modified foods and food products -- 6. The European data protection directive -- 7. Summary and conclusions.

The Financial Sector in the Enlarging European Union

The Financial Sector in the Enlarging European Union
Author: Daniel Stavárek
Publisher: Cambridge Scholars Publishing
Total Pages: 221
Release: 2009-10-02
Genre: Business & Economics
ISBN: 1443815233

The present book is a collection of studies presented at the 10th International Conference on Finance and Banking which took place at Silesian University - School of Business Administration in Karviná, Czech Republic on October 19 - 20, 2005. All papers presented at the conference have been peer-reviewed and, consequently, the nine best papers that discuss issues corresponding with the book’s focus have been selected by the editors for publication in this book. In spite of the fact that the book is a collection of independent studies it represents a comprehensive and consistent work. All studies (book chapters) are tied together by common references. Through original research, the book will cover various aspects of financial and banking sectors in new EU-member countries, giving a comparison of their development to financial sectors of developed countries. Special attention is paid to prospective integration of the new EU-member countries to the European Economic and Monetary Union and the implications for national economic policies. Generally, the book we are offering gives very deep insight into the financial sector of new EU-member countries written by a very interesting group of authors. It combines young and promising economists with respected researchers living in new as well as in traditional EU countries and working in various ways with the financial sector. The book successfully pulls together theory and actual development of financial sectors in new EU-member countries. Moreover, a rich blend of applied theory and actual practice makes the book attractive for a wide spectrum of readers.