IDEAS home Printed from https://ideas.repec.org/p/zbw/zewdip/870.html
   My bibliography  Save this paper

The Benefits of Creating an Integrated EU Market for Investment Funds

Author

Listed:
  • Heinemann, Friedrich

Abstract

The fast growing EU market for investment funds is still characterised by a continuing relevance of national borders. This papers assesses this market?s degree of integration, the potential benefits from more integration and the obstacles to cross-border sales of funds. The analysis shows that markets of small member countries are particularly isolated since for suppliers of funds the market potential is too small to compensate for the fixed costs of market entry. But also in the big markets foreign funds lack market success. A better integrated European market for investment funds would provide three kinds of benefits: It increases choice of products, it allows to realise economies of scale and it intensifies competition for the benefit of private investors. It is argued that the present characteristics of fund distribution channels are mainly responsible for fragmentation besides regulatory and tax issues.

Suggested Citation

  • Heinemann, Friedrich, 2002. "The Benefits of Creating an Integrated EU Market for Investment Funds," ZEW Discussion Papers 02-27, ZEW - Leibniz Centre for European Economic Research.
    • Handle: RePEc:zbw:zewdip:870
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/24779/1/dp0227.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lang, Gunnar & Schäfer, Henry, 2013. "What is the wind behind the sails to go abroad? Empirical evidence from the mutual fund industry," ZEW Discussion Papers 13-022, ZEW - Leibniz Centre for European Economic Research.
    2. Lang, Gunnar & Köhler, Matthias, 2011. "How does the domiciliation decision affect mutual fund fees?," ZEW Discussion Papers 11-085, ZEW - Leibniz Centre for European Economic Research.

    More about this item

    Keywords

    UCITS; investment fund; European integration;
    All these keywords.

    JEL classification:

    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:zewdip:870. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zemande.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.