 Macro Uploading and Supranational Institutions: Formulating the Financial Services Action Plan (FSAP)Kerry E. Howell Chapter 9 in Europeanization, European Integration and Financial Services, 2004, pp 140-150 from Palgrave Macmillan Abstract: Abstract The Economic and Monetary Union (EMU) intensified the rationale for an integrated financial services sector. Research conducted for the European Commission identified significant benefits for consumers, businesses and investors. This indicated that EU-wide Gross Domestic Product (GDP) will increase by 1.1 per cent or €130 b at 2002 prices over 10–15 years. Employment will increase by 0.5 per cent and integrated equity markets will reduce the price of equity capital by 0.5 per cent with corporate bond finance falling by 0.4 per cent. Given these savings the EU and member states have stepped up their activities in their pursuit of a single market in financial services over the last five years. Indeed, following macro uploading and European integration procedures the Financial Services Action Plan (FSAP) provided the basis for further micro uploading, discussion and debate, and the eventual downloading of EU legislation into domestic domains. Keywords: Corporate Governance; Financial Service; Single Market; Financial Service Authority; Supranational Institution (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50312-0_10 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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