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902 results matching your search
Date	Type	Description
141 03/04/2017	Article	REF 125 Europe 60 years later Brexit and the Financial Sector in Europe: Bye-Bye London? Free access Jean-François PONS On 23 June 2016, the British People voted out of the EU. Brexit will trigger long and complex “divorce” negotiations on a wide range of topics. These negotiations are likely to… JEL classification : F15 F55 G20
142 30/12/2016	Article	REF 124 The Financial Systems in Latin America The Contribution of Social Currencies to Microfinance: The Case of the Brazilian Community Development Banks Free access Tristan DISSAUX Camille MEYER Since its widespread diffusion in the mid-1990s, microfinance became an important part of poverty reduction strategies. However, the impacts of its main financial technique,… JEL classification : E42 G23 O16 O54
143 30/12/2016	Article	REF 124 The Financial Systems in Latin America CNP Assurances' Know-How in Brazil Free access Philippe BOYANCÉ Xavier LARNAUDIE-EIFFEL The settlement of CNP Assurances in Brazil is a success. Beyond mastering the valuation techniques of insurance companies, through which CNP won the 2001 bidding for the… JEL classification : G22 L10 L25 O54
144 30/12/2016	Article	REF 124 The Financial Systems in Latin America Chilean Pension Funds: An Evolving System after a Third of a Century Free access Carlos PARDO Jaime PARDO Pension funds are a par excellence passionate topic, and this regardless of the country. Chile is not an exception. Representing a real paradigm, the Chilean experience, regarding… JEL classification : G00 G23 H55 J26 O16 O54
145 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The Chinese Financial System: A Development Difficult to Master Free access Anton BRENDER Florence PISANI Since the 2008 Great financial crisis, the Chinese financial system, largely shaped by its « Soviet » past, has continually evolved. This has allowed China to absorb the huge… JEL classification : E21 G23 P20
146 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The Role of Capital Markets in Financing the US Economy Free access Benoît MALAPERT In the context of current discussions on the development of a Capital Markets Union at the EU level, the reference is often made to the disintermediation funding model of the US… JEL classification : G20 G28 N21
147 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The Insurance and Reinsurance Industry in the Restructuring of Financial Institutions Free access Philippe TRAINAR The (re)insurance industry has shown a great capacity of resilience during the financial crisis and its activity is still developing. It is nonetheless undergoing big changes with… JEL classification : G01 G22 L11
148 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems Excess of Saving and Lack of Investment: Which Solutions? Free access François VILLEROY DE GALHAU The European economy is facing a real challenge regarding the financing of its growth opportunities. It needs to diversify corporate financing, channel households savings towards… JEL classification : E21 E22 F36 G20 E60
149 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems What Role for Financial Markets in Europe? Free access Grégory CLAEYS An efficient financial system is essential to the good functioning of the economy. The various functions of the financial system can be provided either by banks or by markets.… JEL classification : G10 G18 G20 G28
150 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems Market Financing of Mid-Size Companies: State of Play and Key Drivers Free access Jean BOISSINOT Thomas MARX The emergence of new issuers among medium-sized enterprises are a new development of financial markets. These developments are driven by a mix of external factors (low interest… JEL classification : G23 G32 L25
151 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems Bitcoin et Blockchain: What Opportunities? Free access Jean-Marc FIGUET The emergence of virtual currencies, based on cryptographic protocols, raises questions about their status. Here, we analyze the case of Bitcoin. We show that bitcoin does not… JEL classification : E40 G21 G23
152 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The New Economy Financing: Revolution or Evolution? Free access Jean-Hervé LORENZI Considered as the new industrial revolution, the digital revolution faces the issue of the NICT companies' financing. Significant funding needs cannot be satisfied by the banking… JEL classification : G24 L10 O30 G32
153 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems Disintermediation: Why, How and What Can Be Expected? Free access Grégory LEVIEUGE Jean Paul POLLIN This paper deals with the causes and consequences of the disintermediation that has been observed for some time in Europe, in particular since the financial crisis. Firstly, we… JEL classification : E50 G20
154 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The Euro PP Market: A New Source of Funding in a Disintermediation Context Free access Stéphanie COLLET Caroline PENY Private Placements offer an alternative way of funding, especially for SME firms. This paper explains the circumstances under which the Euro PP (Private Placements) market has… JEL classification : E51 G20 L25
155 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems There Is Not Too Much Saving, Only Bad Economic Policies Free access Olivier DAVANNE This article reminds why saving now seems particularly abundant, but criticized the notion of « excess saving ». It argues that in the medium term, substantial saving can be… JEL classification : E22 E61 G28
156 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems The Dangers of the Shift to a Disintermediated Model of Corporate Financing in the Euro Zone Free access Patrick ARTUS Eurozone corporates already finance more on the capital markets and less through bank lending. This evolution is due to the new regulations of European banks, but also corresponds… JEL classification : G20 G32
157 31/10/2016	Article	REF 123 The on-going reconstructing of financial systems Which Impact of Expanding Role of Investment Funds? Free access Sébastien GALANTI Françoise LE QUÉRÉ Banking disintermediation induces a greater role for shadow banking firms, among which investment funds. These funds attract a large part of savings that were previously… JEL classification : G12 G18 G23 G32
158 30/06/2016	Article	REF 122 Demography and finance Live (Very) Old with Adequate Means: Which Role for Life Products? Free access André MASSON The lengthening of life expectancy, especially at older ages since the mid-1970s, implies that the longevity risk is growing again with more uncertain pensions in the future and… JEL classification : D31 G22 J14 J18
159 30/06/2016	Article	REF 122 Demography and finance Crowdfunding: Alternative Funding Model or Generalization of Market Intermediation for SMEs and Start-Up Companies? Free access Sylvie CIEPLY Anne-Laure LE NADANT Crowdfunding has been initially presented as an alternative model to fund risky projects from the crowd. The authors study the recent evolution of regulation and the development… JEL classification : G21 G24 M13
160 30/06/2016	Article	REF 122 Demography and finance Longevity Risk within Pension Funds Free access Bruno LATOURRETTE Defined benefit pension funds bear important longevity risks, of which the main one is trend risk. This risk is linked to higher than expected increase of life expectancies of… JEL classification : G22 G23 J11 J14