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Europe should not neglect its capital markets union

Author

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  • Maria Demertzis
  • Marta Domínguez-Jiménez
  • Lionel Guetta-Jeanrenaud

Abstract

This Policy Contribution was produced with the financial support of the European Forum Alpbach The completion of Europe’s capital markets union is desirable not only from a financial stability standpoint. Equity-based financing is also better suited than banks to finance high-growth sectors (such as digital and hi-tech) where most capital is intangible. Additionally, stock markets reallocate funds towards less-polluting sectors more efficiently than banks, and provide incentives for carbon-intensive sectors...

Suggested Citation

  • Maria Demertzis & Marta Domínguez-Jiménez & Lionel Guetta-Jeanrenaud, 2021. "Europe should not neglect its capital markets union," Policy Contributions 43067, Bruegel.
    • Handle: RePEc:bre:polcon:43067
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    File URL: https://www.bruegel.org/wp-content/uploads/2021/06/PC-CMU.pdf
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    Cited by:

    1. Pacelli, Vincenzo & Miglietta, Federica & Foglia, Matteo, 2022. "The extreme risk connectedness of the new financial system: European evidence," International Review of Financial Analysis, Elsevier, vol. 84(C).

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