The competition between European financial centres is a subject of spirited public debate. Has the introduction of the Euro undermined London's position? Does tax competition disadvantage some European centres? Should the regulation of institutional investment be changed? Is it a good policy for governments to promote their national financial centres? And would the UK joining the European monetary union threaten the position of other European centres? These are some of the questions confronting policymakers and industry players. This book provides a firm empirical basis for examining these issues and provides a means to compare the efficiency, performance and future potential of the main European financial centres.

Autorentext

WERNER G. SEIFERT is CEO, the German Stock Exchange, Frankfurt, Germany.

ANN-KRISTIN ACHLEITNER is Professor of Banking and Finance, European Business School, Oestrich-Winkel, Germany.

FRANK MATTERN is Director, Financial Institutions Group, McKinsey & Co., Inc., Frankfurt, Germany.

CLARA C. STREIT is Principal, Financial Institutions Group, McKinsey & Co., Inc., Frankfurt, Germany.

HANS-JOACHIM VOTH is Associate Director, Cente for History and Economics, King's College, University of Cambridge and Professor Titular, Universitat Pompeu Fabra, Barcelona.

Inhalt

Introduction Performance Measures Financial Centres, Capital Market Performance and the Economy Competitive Dynamics Policy Initiatives