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COMPETITION LAW AND FINANCIAL SERVICES

Harrison David

Oprawa:
TWARDA

Wydawca:
Taylor and Francis

Data premiery:
2014-02-25

ISBN:
9780415828819

603,75 PLN
Wysyłamy w 21 dni

Opis produktu

P>Competition law underpins the market economy by prohibiting anticompetitive agreements and practices and the abuse of dominant positions in the market. Until the financial crisis it was widely assumed that the financial services industry was highly competitive. This book explores the extent to which this is the case. /P>P>/P>P>By analysing crisis and precrisis competition law cases and examples from the UK the EU and around the world David Harrison asks whether there exists good reason for financial services to be treated differently from the rest of the market economy. The theory of market efficiency is not borne out in practice. He particularly draws upon John Maynard Keynes in examining the differences between price mechanisms in product markets for normal goods and price mechanisms in financial and investment markets where expectations of the future tend to play a greater role leading to greater price fluctuations. /P>P>/P>P>In this evaluation the book examines aspects of the practical functioning of capital markets such as the phenomenon of herding behaviour by financial participants how shortterm behaviour by intermediaries can be to the disadvantage of savers and productive investment the relationship between investment markets and product markets and the extent to which the same competition rules apply to undertakings involved in both. The book will be invaluable to students researchers and practitioners of banking and finance law and commercial and competition law./P>P>.P>1. Introduction : 2. The Single Market Background : 3. Theory : 4. Practice : 5. Capital Markets : 6. Banks (I): Structural Issues : 7. Banks (II): Behavioural Issues : 8. Analysis : 9. RemediesP>/P>P>David Harrison shows how and why regulation of the financial markets has failed in the past and explains how thisŃpolicy failureŃcan be corrected by applying proper competition policyŃprinciples to the sector inŃthe future. Like his previous book The Organisation of Europe/Ńthe analysisŃis innovative elegantŃand thoughtprovoking. /P>P>/P>P>Anthony Teasdale (author I>The Penguin Companion to European Union/I>)/P>P>/P>P>Ń/P>P>Harrisons latest work is one of outstanding vision clarity and concision. Drawing on Keynesian economics and questioning the received wisdom that finance is selfcorrecting and efficient Harrison explains how markets for financial services differ from markets for goods what the defects specific to their operation are and how these can be remedied by the application of competition law. In the process Harrison outlines a plausible complement (or perhaps alternative) to dedicated financial markets regulation. Recommended for experts and lay readers alike.Ń /P>P>Phoebus Athanassiou (Senior Legal Counsel European Central Bank Frankfurt)/P>P>/P>P>Ń/P>P>To borrow from Keynes David Harrison has found a new way of looking at the banking sectors śmagneto trouble. He applies relentless legal logic to

Data Publikacji: 2014-02-25
Wymiary: 234 mm 156 mm 362.87 gr

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