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Making a reality of Europe’s Capital Markets Union

Author

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  • André Sapir
  • Nicolas Véron
  • Guntram B. Wolff

Abstract

The deepening and integration of the European Union’s capital markets is a long-term structural endeavour. Although difficult to achieve, it is worthwhile for several reasons- a meaningful body of economic analysis strongly suggests that purely bank-based financial systems are more prone to crises and might produce lower growth performance; widely-accepted analysis suggests that cross-border capital market integration can be an important complement to fiscal risk sharing; and the departure from...

Suggested Citation

  • André Sapir & Nicolas Véron & Guntram B. Wolff, 2018. "Making a reality of Europe’s Capital Markets Union," Policy Contributions 25326, Bruegel.
    • Handle: RePEc:bre:polcon:25326
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    References listed on IDEAS

    as
    1. André Sapir & Dirk Schoenmaker & Nicolas Veron, 2017. "Making the Best of Brexit for the EU-27 Financial System," Policy Briefs PB17-8, Peterson Institute for International Economics.
    2. André Sapir & Guntram B. Wolff, 2013. "The neglected side of banking union- reshaping Europe’s financial system," Policy Contributions 792, Bruegel.
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    3. Curatola, Giuliano & Dergunov, Ilya, 2023. "International capital markets with interdependent preferences: Theory and empirical evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 403-421.
    4. Malvaso, Catia G. & Delfabbro, Paul H., 2020. "Description and evaluation of a trial program aimed at reunifying adolescents in statutory long-term out-of-home care with their birth families: The adolescent reunification program," Children and Youth Services Review, Elsevier, vol. 119(C).

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