Financial Integration in Europe

Harald A. Benink

ISBN 10: 9401048118 / ISBN 13: 9789401048118

Published by Springer Nature B.V. Okt 2013, 2013

About this Item

Neuware - One of the key issues relating to the perfonnance of national economies is the efficiency of the financial system which stands at the heart of the capital-allocation process. There are two aspects which define efficiency. Static efficiency involves the ali-in difference between rates of return provided to ultimate savers and the cost of funds to users. This 'gap', or spread, reflects the direct costs of production (operating and administrative costs, cost of capital, etc.). It also reflects losses incurred in the financial process, as well as any monopoly profits earned and liquidity premiums. Financial processes that are considered 'statically inefficient' are usually characterised by high 'spreads' due to high overhead costs, high losses, barriers to entry, and the like. Dynamic efficiency is characterised by high rates of financial product and process innovation through time. Successful product and process innovation broadens the menu of financial products available to ultimate issuers, ultimate savers, or other agents along the various financial process channels described above. Probably the most powerful catalyst affecting the competitive dynamics of the financial services industry has been technological change.

Seller Inventory # 9789401048118

Bibliographic Details

• Title: Financial Integration in Europe
• Publisher: Springer Nature B.V. Okt 2013
• Publication Date: 2013
• Language: English
• ISBN 10: 9401048118
• ISBN 13: 9789401048118
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 240W x 160H x 13D millimeters 240 millimeters width by 160 millimeters height by 13 millimeters depth
• Weight: 360 grams

About this title

Synopsis

One of the key issues relating to the perfonnance of national economies is the efficiency of the financial system which stands at the heart of the capital-allocation process. There are two aspects which define efficiency. Static efficiency involves the ali-in difference between rates of return provided to ultimate savers and the cost of funds to users. This 'gap', or spread, reflects the direct costs of production (operating and administrative costs, cost of capital, etc.). It also reflects losses incurred in the financial process, as well as any monopoly profits earned and liquidity premiums. Financial processes that are considered 'statically inefficient' are usually characterised by high 'spreads' due to high overhead costs, high losses, barriers to entry, and the like. Dynamic efficiency is characterised by high rates of financial product and process innovation through time. Successful product and process innovation broadens the menu of financial products available to ultimate issuers, ultimate savers, or other agents along the various financial process channels described above. Probably the most powerful catalyst affecting the competitive dynamics of the financial services industry has been technological change.

Language Notes

Text: English (translation)
Original Language: Dutch