Скачать или смотреть A Case Study in (Failed?) Integration: Financial Services

Finance can flow across jurisdictions in multilevel markets much more easily than goods, most services, or labor. Its structure, costs and distribution of gains are more fully organized by law and regulation than perhaps any other part of the economy. The legal and political idiosyncracies of the U.S. and EU have both produced complex mixes—arguably messes—of erratic financial integration. American markets feature omnipresent “too big to fail” kingpins, community lenders and insurance firms under 50 different regulators, and often-struggling regional banks between them. Europe’s mix is messier: cross-border “passporting” rules and partly-integrated supervision without centralized deposit insurance have unleashed cross-border activity for some financial services, but barely touched areas like retail banking. Are rationalizations on either side imaginable, and how would they relate to each other?

Kathryn Judge, Harvey J. Goldschmid Professor of Law and Vice Dean for Intellectual Life, Columbia Law School
Niamh Moloney, Professor, London School of Economics and Political Science
Paolo Saguato, Professor of Law, George Mason University Antonin Scalia Law School
David Zaring, Elizabeth F. Putzel Professor and Professor of Legal Studies & Business Ethics, University of Pennsylvania Wharton College of Business
Moderator: Alex J. Pollock, Senior Fellow, Mises Institute for Austrian Economics