Call for papers
Second workshop of the ECB-CFS Research Network on
"Capital markets and financial integration in Europe"
hosted by the Bank of Finland in Helsinki
Following the launch of the ECB-CFS Research Network on "Capital markets and financial integration
in Europe" in April 2002, the European Central Bank, the Center for Financial Studies and the Bank
of Finland are soliciting submissions of papers for the second workshop of the network. This network
initiative focuses on European financial integration, financial system structures in Europe and financial
linkages between Europe, the United States and Japan. ( Further information will soon be available on the
network's website, at
www.eu-financial-system.org ).
The organisers are seeking to bring together academics, central bank researchers and policy-makers
interested in this field. Relevant empirical, institutional and theoretical research will be considered.
The workshop will be held in Helsinki on 11-12 March 2003.
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Topics
The submission of research papers in the following fields is especially encouraged:
- European equity markets
- Integration of equity markets (e.g. the cost of capital, market growth and consolidation of exchanges).
- Implications of corporate governance and accounting rules for integration, transparency and volatility.
- Determinants of the role of equity versus bond and loan financing of firms.
- Bank competition and the geographical scope of banking activities
- Optimal degree of bank competition with regard to efficiency and stability.
- Geographical scope of different banking markets, their integration and implications for policy.
- Bank mergers, in particular cross-border mergers, and implications of bank consolidation.
- International portfolio choices and asset market linkages between Europe, the United States and Japan
- Portfolio choices of institutional investors and structure of capital flows (e.g. changes in home biases).
- G3 asset price and volatility linkages, crisis contagion (in particular cross-asset analyses).
- Capital flows and the euro exchange rate (microstructure and new open economy macro analyses).
Papers on
other topics falling within the scope of the network, as described
in the network "road map", are also welcome. (Further details about the three main themes above
can be found in the road map, soon available on the website of the network.)
Selected papers will have a discussant and will be posted on the network's website.
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Expenses
Travel (economy class round-trip) and accommodation expenses will be covered for academic speakers.
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Submission information
Research papers (MS Word or pdf files only) should be sent to Sabine Wiedemann at the ECB
(
Sabine.Wiedemann@ecb.int )
by
15 January 2003.
The authors of selected papers will be informed by 10 February 2003.
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Subsequent workshop
The third workshop of the Research Network will be hosted by the Bank of Greece on 20-21 November 2003.
Its main themes will be "European securities settlement systems", "Start-up financing and 'new markets'"
and "European bond markets", as detailed in a separate
call for papers.
