Home Volumul 1 MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES

MAPPING EUROPEAN CAPITAL MARKETS TENDENCIES


Andreea Avadanei
“Alexandru Ioan Cuza” University of Iaşi, Doctoral School of Economics,
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Abstract
The scope of this paper is to analyze the main tendencies influencing European capital
markets development. In order to point out their implications, we structured our study on
four chapters. The first one illustrates the consolidation of stock exchanges at the European
level; the seconds presents some considerations about the deregulation/re-regulation of EU
capital markets; the third section highlights the globalization implications on their evolution
and the fourth one indicates the effects of financial innovation. The progressive integration
of European capital markets over the past decade contributed to the lowering of capital cost
as a result of increased risk diversification opportunities and reduced transaction costs due
to the specialization of financial system provisions. Moreover, the expansion of these
markets improved firms financing decisions, leading to an increased share of non-bank
funding sources.
Key words: capital markets, consolidation, deregulation, globalization, innovation

Citeste articolul