Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/110386
Authors: 
Brühl, Volker
Gründl, Helmut
Hackethal, Andreas
Kotz, Hans-Helmut
Krahnen, Jan Pieter
Tröger, Tobias
Year of Publication: 
2015
Series/Report no.: 
White Paper Series 27
Abstract: 
The European Commission has published a Green Paper outlining possible measures to create a single market for capital in Europe. Our comments on the Commission's capital markets union project use the functional finance approach as a starting point. Policy decisions, according to the functional finance perspective, should be essentially neutral (agnostic) in terms of institutions (level playing field). Our main angle, from which we assess proposals for the capital markets union agenda, are information asymmetries and the agency problems (screening, monitoring) which arise as a result. Within this perspective, we make a number of more specific proposals.
Subjects: 
Capital Markets Union
functional finance approach
level playing field
financial services
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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