European Financial Systems in the Global Economy provides an overview of sources of finance, types of financial intermediation and financial systems in Europe and their relative importance in the world economy. It describes market mechanisms and prices and gives a broad introduction to the relevant regional financial and monetary issues (including those countries that will join the EU in the future) and makes an ideal primer for those new to the world of finance.

European Financial Systems in the Global Economy provides an overview of sources of finance, types of financial intermediation and financial systems in Europe and their relative importance in the world economy. It describes market mechanisms and prices and gives a broad introduction to the relevant regional financial and monetary issues (including those countries that will join the EU in the future) and makes an ideal primer for those new to the world of finance.

About the Author.1. Introduction2. European financial markets in history3. Market structures3.1. Financial systems, markets and intermediaries3.2. Financial market typology3.2.1. Non-tradables and non-transferables3.2.2. SecuritiesFixed-income marketsEquity markets3.2.3. Derivatives3.3. Financial systems in Europe3.3.1. Bank-based systems3.3.2. Market-based systems3.3.3. Financial systems in Eastern Europe3.4. External markets3.4.1. Euromarkets3.4.2. Offshore centres3.4.3. Virtual market places4. European financial markets in the world economy4.1. Banks4.2 Exchanges4.3. Venture capital4.4. Payment, clearing and settlement systems5. Market mechanisms and prices5.1 Diversification, hedging and arbitrage5.2. Market dynamics and the role of expectations5.3. Price patterns6. Policy Issues6.1. Policy targets6.2 Policy cooperation.6.3 EMU and financial integration.7. Conclusions.Appendix A: Bill of Exchange as Medieval Credit Instrument.Appendix B: The Tobin Tax.Appendix C: CFA Franc Zone.Appendix D: Rating Agencies.Appendix E: Optimum Currency Area.Appendix F: Luxembourg.Appendix G: Nonlinearities.Appendix H: Value at Risk.Appendix I: Legend to the FESE Diagram of the EuropeanExchanges.References.Index.