Colloquium Books
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“Money, Finance and Demography: The Consequences of Ageing”; edited by Morten Balling, Ernest Gnan and Frank Lierman, SUERF, Vienna, November 2007, ISBN 978 3 902109 37 8
A significant ageing trend can be observed in Europe and in other parts of the world. Fertility is decreasing and life expectancy increasing. The impact of migration is growing. The book deals with the implications for financial markets of these demographic trends. Leading economists and financial experts from Europe and the United States evaluate the challenges to public pension systems and the private pension industry. Based on long-term projections of productivity and employment they look at potential growth in GDP per capita and implications for savings and wealth. Pension fund portfolio management is discussed together with the ability of capital markets to serve retirement-financing purposes. Fiscal as well as financial sustainability are analysed in depth. The roles of global imbalances and international capital movements are included. Most chapters also discuss policy implications - in particular with regard to how pension saving incentives and rules and incentives for retirement should be in order to ensure fiscal and financial sustainability. All contributions in the book are based on presentations at the 26th SUERF Colloquium on “Money, Finance and Demography - the Consequences of Ageing” held on 12-14 October, 2006 in Lisbon sponsored by Banco de Portugal and Millennium bcp and in cooperation with the Universidade Nova le Lisboa. |
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“Competition and Profitability in European Financial Services: Strategic, Systemic and Policy Issues”, edited by Morten Balling, Frank Lierman and Andrew W. Mullineux, Routledge International Studies in Money and Banking, Routledge, London and New York, April 2006, ISBN 0-41538494-X If you wish to purchase the book, please click here to visit Routledge's online shop for further information (opens in a new window).
Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of monetary policy. This collection of research contributions includes evaluations of trends in the European financial service industry and examinations of the driving forces of efficiency, competition and profitability of financial firms and institutions in Europe. The papers have been written by leading academics and researchers in the field, who specialize in strategic, systematic and policy issues related to the European financial services industry. This edited collection will be will be essential reading for students and academics but will also be of interest to financial practitioners and government officials interested in acquiring a deeper understanding of this complex issue. For further details and to order the book please visit the publisher’s website: www.routledge.com |
"Financial Markets in Central and Eastern Europe:
Stability and Efficiency", edited by Morten Balling, Frank
Lierman, and Andrew W. Mullineux, Routledge Studies in the European
Economy, Routledge, London and New York, June 2004, ISBN 0-41534253-8
If you wish to purchase the book, please click
here to visit Routledge's online shop for further information
(opens in a new window).
The countries of Central and Eastern Europe have been through
a profound transition process for more than a decade now.
The financial sectors and markets in the region have been
subject to major structural reforms including privatization,
liberalization and the acquisition by foreign banks of controlling
interests in local financial institutions. This important new book includes papers that chart this process.
Topics discussed include the implications of future EU membership
and the strategies pursued by the World Bank and International
Monetary Fund.
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"Technology and Finance - Challenges for Financial
Markets, Business Strategies and Policy Makers", edited
by Morten Balling, Frank Lierman, Andrew Mullineux; Routledge
International Studies in Money and Banking 17, 2002, ISBN 041529827X;
400 pages, 66 line figures, 39 tables; GBP 75.
Technology has important implications for the earnings, cost,
risks, competitiveness and location of financial institutions.
In this book, leading international scholars discuss how financial
supervision and regulation must be adapted to the new risks
and new risk management methods associated with developing technologies. |
"Adapting to Financial Globalisation", edited by Morten
Balling, Elizabeth Hennessy, and Eduard H. Hochreiter, Routledge
International Studies in Money and Banking, 14, Routledge, London
and New York, June 2001, ISBN 0-415-25240-7.
Adapting to the demands of financial globalisation is currently
one of the most pressing preoccupations of bankers, financial
institutions and financial authorities. Many aspects of this
issue are addressed in this volume, based on a colloquium held
in Vienna in April 2000 by the Société Universitaire Euorpéenne
de Recherches Financières (SUERF) jointly with the Austrian
National Bank. Individual chapters, written by academics, central
bankers and market professionals, focus on the strategic implications
of global pressures which are tending to eradicate the previously
clear boundaries of time, distance, legal frameworks, culture,
languages and currencies. |
"The Euro - A Challenge and Opportunity for Financial Markets",
edited by Michael Artis, Axel Weber, and Elizabeth Hennessy,
Routledge International Studies in Money and Banking, Routledge,
London, New York, 2000, ISBN 0-415-21710-5.
In this book, leading financial professions and academics
examine the prospects for the European single currency, widely
seen as heralding a 'quantum leap' for European financial markets.
The impact of the euro, and its implications for European market
integration, are examined in terms of three core factors: risk
and opportunities for financial intermediaries; challenges for
monetary and supervisory authorities; issues for portfolio management
and corporate finance. The discussion embraces key topics such
as the Maastricht Treaty design for the European Bank, and its
possible loopholes, and the assumption that the European capital
market will emerge to challenge the US market in scale and liquidity.
This book is based ont he proceedings of the 21st SUERF Colloquium
held in Frankfurt in 1999. |
"Corporate Governance, Financial Markets and Global Convergence",
edited by Morten Balling, Elizabeth Hennessy, and Richard O'Brien,
Financial and Monetary Policy Studies 33, Kluwer Academic Publishers,
Dordrecht, Boston, London, 1998, ISBN 0-7923-4825-7.
The papers in this volume were presented at the 20th SUERF
Colloquium in Budapest. The three main topics are: Corporate
governance of financial institutions; Corporate governance as
exerted by financial institutions; Financial institutions as
participants in the transfer of corporate governance. The structure
of financial institutions has a significant impact on the ways
in which the power to manage corporate resources is allocated.
The relative roles of different types of owners and the legal
frameworks within which they operate are currently in a state
of flux throughout Europe. Financial integration in the European
Union, the transition to open market economies in Central and
Eastern Europe and privatization all have a profound effect
on the behaviour and influence of different enterprises. This
collection of papers demonstrates the range of aspects of corporate
governance in a world characterized by rapid technological,
political and institutional change, which are currently concerning
researchers and practitioners. The contributions will be of
considerable interest to academics in the fields of finance
and banking, monetary economics and macro-economics, and also
to professionals in banks, securities houses, corporate treasuries,
pension funds, consultancies, law firms, and central banks and
regulatory bodies. |
"Risk Management in Volatile Financial Markets", edited
by Franco Bruni, Donald E. Fair, and Richard O'Brien, Financial
and Monetary Policy Studies 32, Kluwer Academic Publishers,
Dordrecht, Boston, London, 1996, ISBN 0-7923-4053-1.
The rapidly changing structure of fianancial markets is
leading to a radical shift in the way in which private sector
financial institutions and firms, and public regulators, are
coping with risk. With markets displaying a high degree of innovation
and volatility, the responsibility for risk management is being
placed increasingly on private sector operators. Following assessments
of the extent of market volatility and risk in financial markets,
this volume presents examples of how private institutions are
developing new risk management techniques and case studies from
specific markets including securities markets and retail banking.
In addition, senior central bankers discuss their changing attitude
to risk and regulation and the implications for exchange rate
and monetary policies. The papers are written by authors from
many countries covering a wide range of country experiences:
by players in leading banks and companies; by public officials;
and by academics, providing three differing perspectives on
the financial markets of the 1990s. The four main sections address
central bank perspectives, volatility and risk, institutional
issues and practices, and the policy implications. The volume
includes the 1995 Prix de Marjolin essay and concludes with
the 1995 Marjolin Lecture, given at the 19th SUERF Colloquium
in Thun, from which the papers are selected. The contributions
will be of considerable interest to those in banks, securities
houses, compayn treasuries, central banks and regulatory bodies
as well as to academics. |
"The Competitiveness of Financial Institutions and Centres
in Europe", edited by Donald E. Fair and Robert J. Raymond,
Financial and Monetary Policy Studies 28, Kluwer Academic Publishers,
Dordrecht, Boston, London, 1994, ISBN 0-7923-3131-1.
This book addresses key questions facing European financial
markets today. It relates to the dramatic increase in competition
between financial centres and institutions under the influence
of several factors - the effect of innovation in financial products
and technological processes, widespread deregulation and associated
re-regulation (prudential rules), the implementation of the
single market in Europe and the new strategies of institutions
and national financial centres facing more competitive conditons.
Major subjects include the transfer of fragility from the real
economy to the financial sector, and vice versa, through such
channels as booming financial activities, intense competition
and greater risks, as in property lending, and also the more
cautious policies adopted by financial intermediaries in response
to losses in the recent recession. The papers were contributed
by members of universities, the private financial sector, national
and international policy making communities, and presented at
the 18th SUERF Colloquium in Dublin, 1994. |
"The New Europe: Evolving Economic and Financial Systems
in East and West", edited by Donald E. Fair and Robert J. Raymond,
Financial and Monetary Policy Studies, Kluwer Academic Publishers,
Dordrecht, Boston, London, 1993, ISBN 0-7923-2159-6.
This book refers to two transitions. Eastern European economies,
including CIS republics, are in the process of transition to
a market economy. EC countries are on the way to implementing
an economic and monetary union and many of them would welcome
a political union. EC countries cannot be separated from EFTA
member countries, nor Europe from the rest of the world. The
two transitions are different in kind, and in some respects
are opposed. While globalisation, Eastern economies are exposed
to disintegration. At the same time the East is influenced by
the West and both transitions have some common challenges: the
search for a model of capitalism, intermediate between laissez-faire
and interventionism; the search for competition as a discipline
and for efficiency. The New Europe focuses on privatization,
economic reform, relationships between banks and industry, the
role of the State, the dynamics of banking and financial sectors,
monetary reform, the independence of the central bank, the European
monetary union, and East-West economic and financial relations.
This volume is of outstanding interest for policymakers, executives
and academics. |
"Fiscal Policy, Taxation and the Financial System in an
Increasingly Integrated Europe", edited by Donald E. Fair and
Christian de Boissieu, Financial and Monetary Policy Studies
22, Kluwer Academic Publishers, Dordrecht, Boston, Lancaster,
1992, ISBN 07923-1451-4.
Three major challenges confront European policymakers and
financial systems; (1) to preserve and strengthen policy coordination
between the countries participating in the European Monetary
System; (2) to design the future structure of the Economic and
Monetary Union; (3) to implement constructive economic and financial
responses to the major economic and political reform in Eastern
Europe. The purpose of this book is to present a comprehensive
analysis of these challenges, focusing on the relationships
between fiscal policies on the one hand and financial systems
on the other. The basis for the work is formed by the discussions,
which took place at the 16th SUERF Colloquium in Lisbon, 1991.
Private savings and the taxation of income from capital, imbalances
in public sector budgets and their impact of financial systems,
international resource transfers and the respective roles of
governments and private capital flows, and the policy mix in
teh transition to Economic and Monetary Union are central themes
of the book. This volume is of central importance to policymakers,
bankers, financial executives, and academics. |
"Financial Institutions in Europe under New Competitive
Conditions", edited by Donald E. Fair and Christian de Boissieu,
Financial and Monetary Policy Studies 20, Kluwer Academic Publishers,
Dordrecht, Boston, Lancaster, 1990, ISBN 0-7923-0673-2.
Banks and other financial institutions in Europe are entering
a phase of increasing competitive pressure. The purpose of this
book is to present a comprehensive analysis of the many implications
of these external pressures, which are intensified by technological
developments and by the efforts of financial institutions to
transcend existing national regulatory frameworks. The discussions,
which took place at the SUERF Colloquium in Nice in 1989 provide
the basis for this volume. The strategies adopted by banking
firms, the banking structure expected to emerge, the prudential
control exercised by the authorities, the role of financial
institutions in the restructuring of European industry and the
future of non-bank financial institutions are central themes
of the book. |
"The International Adjustment Process - New Perspectives,
Recent Experience and Future Challenges for the Financial System",
edited by D.E. Fair and C. de Boissieu, Financial and Monetary
Policy Studies 17, Kluwer Academic Publishers, Dordrecht, Boston,
London, 1989, ISBN 0-7923-0013-0.
The need for economic adjustments in developed and developing
countries has become familiar. Large Imbalances persist,, 'crises'
threaten and a relapse into protectionism is never far away.
This book takes a new look at the adjustment process, in the
light of recent historical developments, current influences
and reasonable scenarios for the future. The discussions, which
took place at SUERF Colloquium in Helsinki in 1988, focused
on balance-of-payment adjustment problems, the modus operandi
of the adjustment process, adjustment policies and the special
problems of developing countries. The work is thus of central
importance to international analysis and to international strategies,
and will be required reading for bankers, financiers, businessman,
and policy-makers who work in an international environment. |
"International Monetary and Financial Integration - The
European Dimension", edited by D.E. Fair and C. de Boissieu,
Financial and Monetary Policy Studies 14, Kluwer Academic Publishers,
Dordrecht, Boston, Lancaster, 1988, ISBN 90-247-2563-7.
The development of the European Monetary System and the
prospects for the monetary and financial integration of Europe
are here analysed in great detail by a number of experts from
both sides of the Atlantic. The discussions, which took place
a the SUERF Colloquium arranged in Luxembourg in 1986, were
not concerned with the European system in isolation, and focused
also on the evolution of the world monetary system as a whole
and the outlook for the liberalization of capital flows and
financial services. The work is thus of central importance to
present-day banking and international relations, and will be
required reading for bankers, financiers and businessmen who
work on an international scale, as well as for planners and
policy makers in the area of internation finance. |
"Shifting Frontiers in Financial Markets", edited by Donald
E. Fair, Financial and Monetary Policy Studies 12, Martinus
Nijhoff Publishers, Dordrecht, Boston, Lancaster, 1986, ISBN
90-247-3225-5.
The papers collected in this volume are those presented
at the twelfth colloquium arranged by SUERF in Cambridge, U.K.,
in 1985. The object of this colloquium as to focus on the several
issues concerning the changes which have occurred and are occurring
every day in financial markets. Four specific sets of problems
are being discussed in this volume: the causes of change and
innovation in the mix of financial instruments; the role that,
in the new environment, can be be attributed to the cost of
capital funds in the financing of growth; the implications of
these changes for financial institutions; the implications for
monetary control and for the supervision of financial institutions. |
"Government Policies and the Working of Financial Systems
in Industrialized Countries", edited by D.E. Fair and F. Léonard
de Juvigny, Financial and Monetary Policy Studies 9, Martinus
Nijhoff Publishers, Dordrecht, Boston, Lancaster, 1984, ISBN
90-247-3076-7.
In recent years most industrial countries have experienced
growth in the size of the government budget and, particularly,
of the budget deficit. This has provided an environment in which
government policies have exerted an increasing influence - largely,
but not only, because of the deficit problem - on the working
of the financial system. The twenty papers reproduced in the
current volume focus on this phenomenon in terms of macro-economic
performance, allocation of resources and the behaviour of the
private sector, and financial markets and intermediaries. The
main themes are: "Larege and persisting public sector deficits:
short term and demand thrust and long term policy implications",
"Size and composition of the public sector budget: implications
for private sector finances", "Debt management, financial regulations
and monetary policy" and "Are fiscal and monetary policies independent
instruments?" The volume presents a unique symposium fo analyses
by central bank governors, top treasury officials and academic
and banking experts in this field. Contributors include the
governor of the Bank of Spain, the former Governor of the Deutsche
Bundesbank and the head of H.M. Treasury, United Kingdom. |
"International Lending in a Fragile World Economy", edited
by D.E. Fair, and R. Bertrand, Financial and Monetary Policy
Studies 7, Martinus Nijhoff Publishers, The Hague, Boston, Lancaster,
1983. ISBN 90-247-2809-6.
This volume focusses on current trends in the growth and
pattern of international lending that evolved under the impact
of rising oil prices, stagflation in the industrial economies,
and the growing indebtedness of lesser developed, non-oil countries
and certain Comecon countries. These trends, and resulting issues,
were discussed at the SUERF Colloquium in Vienna, 1982. |
"New Approaches in Monetary Policy", edited by John E.
Wadsworth and François Léonard de Juvigny, Financial and Monetary
Policy Studies 4, Sijthoff & Noordhoff International Publishers,
Alphen aan den Rijn, 1979, ISBN 90-286-0848-6.
The papers presented here clearly show that the views of
the monetarist have gained at least partial acceptance over
a wide field, especially during years when gathering inflation
made less effective the customary remedies, such as restrictive
measures by way of interest rates, money market conditions and
banking activities. Nevertheless, such views are far from being
accepted in their entirety. Central banks generally, while agreeing
with the importance of paying attention to monetary aggregates,
stressed the need, in practice, for employing additional means
of regulation, and expressed doubts as to the effectiveness
of simply controlling the money stock when, for example, inflation
was being imported. |
"Europe and the Dollar in the World-Wide Disequilibrium",
edited by J.R. Sargent, Financial and Monetary Policy Studies
5, Sijthoff & Noordhoff International Publishers, Alphen aan
den Rijn, 1981, ISBN 90-286-0700-5.
The problems of balance-of-payments disequilibrium between
national economies emerged partidularly acutely in 1977-78 in
connection with the US dollar. SUERF was concerned with this
question at its eight colloquium held in Basel in 1979. The
papers collected in this volume fall under six main headings.
At the beginning are three which survey generally, from different
view-points, the US economy and the dollar. The next three papers
examine the problems of adjustment of balances on current account,
and are followed by three papers concerned with capital movements
and their impliations for the stability of the system. The fourth
part comprises four papers on the future role of the US dollar
in the world's monetary system, and the fifth has two papers
on European monetary integration. The sixth part of the volume
contains the report on the discussion which took place at the
colloquium around the particular topics mentioned above. |
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