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xi | (2) |
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xiii | (1) |
Preface and Acknowledgements |
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xiv | (4) |
Notes on the Contributors |
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xviii | (5) |
Synopses of Contributions |
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xxiii | |
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1 Introduction: The Malta Connection |
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1 | (7) |
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1 | (1) |
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1 | (1) |
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3. Malta's role in Economic and Monetary Union |
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2 | (6) |
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2 Cost Economies and Efficiency in EU Banking Systems |
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8 | (33) |
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9 | (1) |
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2. Scale and scope economies: a brief literature review |
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9 | (3) |
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12 | (4) |
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16 | (14) |
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16 | (4) |
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4.2 Expansion path subadditivity |
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20 | (2) |
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22 | (8) |
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30 | (11) |
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3 Relative Efficiencies and Productivity Indices: An Empirical Investigation of the Banking Sectors in Eight European Countries |
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41 | (29) |
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41 | (1) |
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41 | (1) |
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2. Total factor productivity: an activity analysis approach |
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42 | (5) |
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2.1 Measuring differences and changes in productivity |
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42 | (1) |
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43 | (2) |
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2.3 Defining and calculating Malmquist indices |
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45 | (2) |
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3. Application to the EU banking sector |
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47 | (4) |
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4. Results of the analysis |
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51 | (12) |
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51 | (1) |
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4.2 Malmquist indices and decompositions |
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51 | (6) |
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4.3 Relative efficiencies and scale efficiencies |
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57 | (2) |
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4.4 Efficiencies relative to a European best-practice frontier |
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59 | (4) |
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5. Conclusions and limitations |
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63 | (7) |
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63 | (1) |
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64 | (1) |
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64 | (6) |
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4 The Effects of Alternative Financial System Models on Corporate Governance |
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70 | (42) |
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Valentin Azofra-Palenzuela |
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Jose Miguel Rodriguez-Fernandez |
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70 | (3) |
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2. Ownership, concentration and distribution of equity |
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73 | (4) |
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77 | (2) |
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79 | (3) |
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5. Financial organisation model and real economy |
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82 | (7) |
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5.1 Corporate capital investment |
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84 | (1) |
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84 | (2) |
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5.3 The structure of assets |
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86 | (2) |
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5.4 Economic performance and volatility |
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88 | (1) |
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89 | (23) |
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5 Market Share Dynamics and Instruments of Competition in the Portuguese Deposits Market |
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112 | (9) |
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113 | (1) |
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113 | (2) |
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115 | (2) |
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115 | (1) |
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116 | (1) |
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117 | (3) |
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117 | (1) |
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118 | (2) |
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120 | (1) |
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6 Specialisation and Competitiveness of the Spanish Savings Banks, 1984-95 |
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121 | (31) |
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1. The savings banks and the new competition of the single market |
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121 | (4) |
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2. The specialisation of the savings banks: basic features |
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125 | (6) |
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3. Specialisation and evolution of markets |
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131 | (4) |
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4. Are there advantages in the specialisation of the savings banks? |
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135 | (5) |
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5. Specialisation in means of payment |
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140 | (3) |
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6. Efficiency and market shares |
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143 | (3) |
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146 | (6) |
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7 The Future of Relationship Banking |
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152 | (22) |
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1. Why a study of relationship banking? |
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152 | (3) |
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155 | (1) |
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3. Traditional relationship banking |
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156 | (2) |
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4. New developments in relationship banking |
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158 | (2) |
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5. How to identify and to stimulate relationships that are profitable |
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160 | (2) |
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6. How to define and measure relationship profitability |
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162 | (8) |
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170 | (4) |
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8 The Societal Responsibility of Banks: An Introduction to a Societal-Oriented Bank Management Theory |
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174 | (7) |
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1. Societal-oriented bank management as a research topic |
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174 | (1) |
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2. Societal responsibility in business administration |
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174 | (1) |
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3. Requirements of bank management vis-a-vis a theory of societal responsibility |
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175 | (1) |
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4. Alternative approaches to the societal responsibility of banks |
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176 | (3) |
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5. The problem of realisation of the concept of societal responsibility |
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179 | (2) |
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9 Adaptive Strategies by European Savings Banks: A Case Study of Spain |
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181 | (30) |
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181 | (1) |
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2. Structural and strategic analysis |
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182 | (12) |
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182 | (1) |
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2.2 Select performance indicators |
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183 | (4) |
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2.3 Broad strategic shifts: the question of scale |
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187 | (1) |
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2.4 Savings banks in the New Europe |
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188 | (2) |
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2.5 Adaptive strategies summarised |
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190 | (4) |
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3. Adaptive strategies: implications for Spain |
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194 | (14) |
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3.1 Spanish savings banks compared with the EU and the Spanish private banks |
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194 | (4) |
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3.2 Environmental and strategic issues of the Spanish savings banks |
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198 | (3) |
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3.3 Implications, recommendations and policy issues for Spain |
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201 | (7) |
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208 | (3) |
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10 Public Banks in France: Current Problems and Prospective Issues |
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211 | (14) |
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211 | (1) |
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2. Public banks in France: a brief overview |
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212 | (1) |
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3. The regulatory framework and competitive environment |
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213 | (2) |
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4. The poor performance of the public banks: some preliminary reflections |
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215 | (5) |
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5. Restructuring the French credit system is now unavoidable |
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220 | (2) |
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222 | (3) |
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11 Economic and Monetary Union and Single Currency in Europe: Repercussions on Capital Markets and Stock Exchanges |
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225 | (23) |
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225 | (1) |
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226 | (2) |
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3. Foreign exchange markets |
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228 | (1) |
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229 | (3) |
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232 | (2) |
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234 | (3) |
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7. Integration and concentration of securities markets |
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237 | (3) |
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8. Strategies of market-managing bodies |
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240 | (2) |
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9. The impact on the strategies and the organisation of intermediaries |
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242 | (3) |
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245 | (3) |
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12 European Monetary Union: Issues in Supervision |
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248 | (28) |
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248 | (3) |
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2. The consequences of EMU for the structure of and competition within the European financial system |
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251 | (6) |
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3. The implications in terms of supervision |
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257 | (3) |
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4. The state of the art in supervision |
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260 | (10) |
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260 | (3) |
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4.2 Supervision procedures |
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263 | (1) |
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4.3 The EU monetary authorities and the supervisory function |
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264 | (3) |
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4.4 Crisis management: the function of lender of last resort |
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267 | (2) |
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269 | (1) |
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270 | (6) |
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13 The Role of Independence in the European System of Central Banks: A Sufficient Condition for a Robust European Monetary Union? |
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276 | (17) |
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276 | (1) |
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277 | (3) |
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3. Central Bank independence |
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280 | (2) |
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282 | (6) |
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284 | (1) |
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285 | (3) |
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288 | (2) |
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290 | (3) |
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14 EU, EMU and the Central and Eastern European Countries |
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293 | (10) |
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293 | (1) |
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2. EMU convergence criteria |
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294 | (1) |
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295 | (3) |
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4. Central and Eastern Europe and EMU |
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298 | (1) |
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299 | (2) |
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301 | (2) |
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15 EMU, Adjustment and the Peripheral Regions: An Overview of Policy Issues |
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303 | (14) |
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303 | (3) |
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306 | (1) |
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307 | (1) |
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4. Characteristics of a currency area |
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307 | (1) |
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5. Benefits and costs of EMU |
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308 | (3) |
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6. EMU and potential regional effects |
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311 | (1) |
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7. Fiscal policy in a monetary union |
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312 | (1) |
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8. Stabilisation under EMU |
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313 | (1) |
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313 | (4) |
Index |
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317 | |