Financial Markets and Institutions: A European Perspective 2nd Edition

Book Preface

Since the first edition of this book, the world’s financial system has been through its greatest crisis for a century. What made this crisis unique is that severe financial problems emerged simultaneously in many different countries, and its economic impact was felt throughout the world as a result of the increased interconnectedness of the global economy. Written for undergraduate and graduate students of finance, economics, and business, the second edition of this successful textbook provides a fresh analysis of the world’s financial system in light of the recent financial crisis. Combining theory, empirical data, and policy, it examines and explains financial markets, financial infrastructures, financial institutions, and challenges in the domain of financial supervision and competition policy. This new edition features three completely new chapters: one on financial crises, a second on financial innovation, and, on the policy side, a third on the monetary policy of the European Central Bank.

Jakob de Haan is Head of Research of De Nederlandsche Bank and Professor of Political Economy at the University of Groningen.

Sander Oosterloo is Senior Policy Advisor at the Netherlands Ministry of Social Affairs and Employment.

Dirk Schoenmaker is Dean of the Duisenberg School of Finance, Amsterdam, and Professor of Finance, Banking, and Insurance at the VU University Amsterdam.