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It has been an age-old debate whether the financial structure matters for the real economy’s efficiency and therefore for real outcomes. We suppose that varying socioeconomic conditions require appropriately designed corresponding financial sectors. For providing evidence, we firstly determine...
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The Capital Markets Union (CMU) is a flagship project of the European Commission that promotes a deepening of the financial markets. It aims at opening up new sources of funding for SMEs, as well as improving the matching between savers and borrowers. Additionally, CMU is supposed to increase...
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With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
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Italian experience can really serve as a role model for Germany. Our analysis confirms that the Italian reforms of the 1990s … sector differed markedly from Germany's. Therefore, one may question the transferability of the Italian experience to Germany … diesem Aufsatz stellen wir die Frage, ob das italienische Beispiel wirklich als Vorbild für Deutschland dienen kann. Unsere …
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