World financial markets after 1992 / edited by Hans Genberg and Alexander K. Swoboda.

Includes bibliographical references.

Introduction, Hans Genberg and Alexander K. Swoboda. Part 1 European economic and financial integration: new directions in economic integration, Robert Mundell; the European Community's policy towards financial integration, Paolo Clarotti. Part 2 Implications for the EEC: the gains from European banking integration - a call for an active pro-competition policy, Jean Dermine; the rationale for investment in the European Community equity markets 1991-1992, Dennis L. Bark and Bertrand Jacquillaf. Part 3 Implications for the third countries: financial integration in Europe - the EFTA perspective, Emil Ems; is national treatment still viable? US policy in theory and practice, Sydney J. Key. Part 4 The worldwide structure of financial markets: reconfiguration of global financial markets in the 1990s, Roy C. Smith and Ingo Walter); world banking and securities markets after 1992, Gunther Broker. Part 5 Implications for multinational and inter-regional cooperation and policy: '92 and after - the international supervisory challenge.

In the context of European economic integration, 1992 is a watershed. By the end of the year, separate national financial systems will have been integrated into a single EEC-wide comprehensive analysis of the challenges and opportunities implied by this integration for Europe, as well as for the global financial system. Renowned specialists in international finance examine issues such as the welfare gains to EEC countries from the integration process, the impact on financial institutions in non-member countries, the consequences for established and emerging financial centers, the stability of the world financial systems and the required changes in regulation and supervision.