Capital Markets and Financial Intermediation

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Financial intermediation is currently a subject of active academic research on both sides of the Atlantic. European financial integration raises major policy issues about the risks of banking competition and the appropriate regulation of banks and other financial intermediaries. The choice of Anglo-American vis-à, -vis Continental European forms of financial markets is also central to Eastern Europe's transformation. This volume contains theoretical papers at the forefront of academic research that shed light on banking and security markets and banking competition.