The crisis has led to increased financial fragmentation and revealed the link between sovereign and national banking risks, whose persistence over time would be incompatible with the euro. The solution to these problems must be the banking union, which should be constructed at the same time as...

The Belt and Road Initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe. We estimate how much trade might be created among Belt and Road countries as a consequence...

This paper reviews the existing evidence on the impact of foreign banks in the financial stability of the countries where they operate. Foreign banks seem to increase the stability of credit supply. Second, there is no evidence that foreign ownership increases the probability of a banking...

This special issue aims to shed light on the multi dimensional aspects of economic integration among the world's vast, distinct, and two adjacent regions on the continental scale: that is, Asia and Europe. Distinguished researchers weave various strands of economic integration between Asia and...

The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe. The authors estimate how much trade might be created among Belt and Road countries as a...

After a brief review of the literature on the determinants of financial development, the paper reviews the Asian and European financial systems in terms of their size and efficiency. It also compares the steps taken in the two regions in the quest for financial development and stability, which...

As the European Union was recovering from the deepest economic crisis since the introduction of the euro, a number of new challenges popped up. First and foremost, British citizens decided in favor of the UK leaving the European Union in June 2016, and a growing number of countries saw...

With the trade conflict between the United States and China bringing China-US strategic competition into the open, the European Union faces an urgent question: how to position itself in the competition. This paper reviews the impact of the US-led trade war against China and its immediate...