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Many of the problems that have been brewing in the West European banking industry have come to the boil in the years since 1990. The essays collected in this volume focus in particular on competition, organisation and strategy, regulation and crises, and securities markets and financial centres.
Carlo Bastasin and Gianni Toniolo provide a much-needed, up-to-date economic history of Italy from unification in 1861 to the present day. They show how, thirty years after unification, Italy began a long phase of convergence with more advanced economies so that by the late twentieth century Italy's per capita income reached the levels of Germany, France and the UK. From the mid-1990s, however, the Italian economy declined first in relative and then absolute terms. The authors describe the intertwined financial and institutional crises that eroded trust in the political system and in the economy at the exact juncture when new technologies and markets transformed the global economy. Longstanding problems of uneven levels of education and obsolete bureaucratic and judicial practices deepened the division between economically vibrant regions and the rest, causing polarization, political instability and rising public debt. Italy's contemporary malaise makes the country a test-case for understanding the implications of protracted declines in productivity and the flattening of GDP growth for the stability of western democracies, resulting in populism, mistrust and political instability.
This title was first published in 2003. In this volume of essays - based on papers delivered to 2001 conference, International Banking and Financial Systems - leading European bankers and banking historians give their assessment of the evolution of central banking in 20th-century Europe. As well as providing a historical perspective, the volume also explores how the lessons of the 20th century may be brought to bear on current and future trends in central banking. In so doing, this volume provides an insight into the ways in which economic stability and growth has been, and can be, promoted.
This volume of essays comprises a systematic collection of views from scholars and practitioners on the future of financial systems and services and reflects the fact that the financial industry worldwide is involved in a major restructuring process.
International Financial Reporting Standards are increasingly adopted worldwide, and it is critical to understand their place within the global business environment as well as the most up-to-date methods of applying them. In IFRS and XBRL Kurt Ramin and Cornelis Reiman, world authorities on IFRS, have condensed the overwhelming flood of available material to present a comprehensive guide to the key components of IFRS, helping to explain why they are a priority for private enterprises and governments alike. The book: provides valuable commentary on key components of IFRS which are crucial to local, national and international business decision making demonstrates the importance of disclosure ch...
2004 was a year that threw into sharp relief the principal features of the present political conjuncture, that is, one in which the Italian political transition shows few signs of coming to a conclusion. 2004 was, therefore, a year of limited change, one in which reforms were announced but not fully achieved and where the few that were achieved were noteworthy for the compromises that were necessary in order to make them possible at all. It was, too, a year in which there emerged a stalemate between the center-right and center-left coalitions which, pending the regional elections of 2005 and the general election of 2006, took almost equal shares of the vote at the elections for the European Parliament. This volume examines these elections, paying special attention to Forza Italia, the prime minister's party, and the workings of the governing alliance and gives a well-rounded overview over the year's most important developments regarding the government’s approach to the European constitution, the new judicial system, and the pensions legislation – the only major reform actually completed during 2004.
The European Union is moving towards the full implementation of the Investment Services Directive (ISD). Indeed, in some Member States, further changes to the domestic legal framework to increase competition among financial institutions and markets will complete or complement its implementation. This book includes updated papers written by academics and practitioners from Europe and the United States and presented at the Genoa Seminar on European Investment Markets, held in November 1996. Several papers examine critical aspects of the ISD from a comparative viewpoint, in particular considering the appropriateness of further harmonisation. The regulation of financial exchanges in the new comp...
The papers collected in this volume are those presented at the fifteenth Colloquium arranged by the Societe Universitaire Europeenne de Recherches Financieres (SUERF), which took place in Nice in October 1989. The Society is supported by a large number of central banks and commercial banks, by other financial and business institutions and by personal subs criptions from academics and others interested in monetary and financial problems. Since its establishment in 1963, it has developed as a forum for the exchange of information, r~esearch results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and ap...
Under growing pressure from within and outside their economies, countries around the world have embarked upon wide-ranging programmes of financial reform. This handbook provides country studies of contemporary developments in financial reform in a selection of both developed and developing countries from Western Europe, North America, South America, Asia and Australia. The outcome is an account of the contemporary world-wide attempt to refashion the way in which the financial services industry (and especially the banking sector) is regulated and supervised.
Arnaboldi highlights the importance of one of the three pillars of the Banking Union, the common mechanism for insuring deposits. She claims that integrated financial markets require a European solution with regard to deposit insurance and that the establishment of a pan-European scheme could address the problems for large cross-border banks.