The Capital Markets Union: Key Challenges

26 Pages Posted: 4 Mar 2018

See all articles by Franklin Allen

Franklin Allen

Imperial College London

Lubos Pastor

University of Chicago - Booth School of Business

Multiple version iconThere are 2 versions of this paper

Date Written: February 21, 2018

Abstract

In September 2015, the European Commission announced the first actions of its plan to build a Capital Markets Union in Europe. We describe the key features of the Commission’s plan and discuss the economic rationale behind it. The plan has many strengths but also some weaknesses, such as limited ambition in the supervision and enforcement of securities regulations. Other challenges to the development of European capital markets include the financial transactions tax, the low-interest-rate environment, cultural reasons, and potential political opposition.

Keywords: Capital Markets Union

JEL Classification: G18, G28, G38

Suggested Citation

Allen, Franklin and Pastor, Lubos, The Capital Markets Union: Key Challenges (February 21, 2018). Available at SSRN: https://ssrn.com/abstract=3128453 or http://dx.doi.org/10.2139/ssrn.3128453

Franklin Allen

Imperial College London ( email )

South Kensington Campus
Exhibition Road
London, Greater London SW7 2AZ
United Kingdom

Lubos Pastor (Contact Author)

University of Chicago - Booth School of Business ( email )

5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-834-4080 (Phone)
773-702-0458 (Fax)

HOME PAGE: http://www.ChicagoGSB.edu/fac/lubos.pastor/

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
523
Abstract Views
2,055
Rank
98,149
PlumX Metrics