Between competition and centralization: the new infrastructures of European finance

Research output: Contribution to journal › Journal article › Research › peer-review

Standard

Between competition and centralization : the new infrastructures of European finance. / Krarup, Troels.

In: Economy and Society, Vol. 48, No. 1, 2019, p. 107-126.

Research output: Contribution to journal › Journal article › Research › peer-review

Harvard

Krarup, T 2019, 'Between competition and centralization: the new infrastructures of European finance', Economy and Society, vol. 48, no. 1, pp. 107-126. https://doi.org/10.1080/03085147.2019.1578064

APA

Krarup, T. (2019). Between competition and centralization: the new infrastructures of European finance. Economy and Society, 48(1), 107-126. https://doi.org/10.1080/03085147.2019.1578064

Vancouver

Krarup T. Between competition and centralization: the new infrastructures of European finance. Economy and Society. 2019;48(1):107-126. https://doi.org/10.1080/03085147.2019.1578064

Author

Krarup, Troels. / Between competition and centralization : the new infrastructures of European finance. In: Economy and Society. 2019 ; Vol. 48, No. 1. pp. 107-126.

Bibtex

@article{53de1a64ff0a4936b91d9d7412f3236d,
title = "Between competition and centralization: the new infrastructures of European finance",
abstract = "Ongoing European financial market integration relies on the creation of harmonized and centralized market infrastructures: the little-known institutions and systems that settle financial transactions across borders. Since the constitutional conception of market integration within the EU entails creating {\textquoteleft}a level playing field{\textquoteright} for competition, a fundamental problem emerges of how to provide that centralization and harmonization without violating the core principles of an open market economy either through private monopolization or public privatization. The paper presents a socio-technological study of a recent major infrastructure initiative by the European Central Bank, called Target2 Securities (T2S). Embedding the analysis of the struggles and debates around the birth and development of T2S in an analysis of the structural problem of competition and centralization in European financial market integration, the paper suggests an alternative perspective to that of performativity currently dominating the research field.",
keywords = "Faculty of Social Sciences, finance, social studies of finance, competition, market infrastructures, European Central Bank (ECB), Target2-Securities, finance, social studies of finance, competition, market infrastructures, European Central Bank (ECB), Target2-Securities",
author = "Troels Krarup",
year = "2019",
doi = "10.1080/03085147.2019.1578064",
language = "English",
volume = "48",
pages = "107--126",
journal = "Economy and Society",
issn = "0308-5147",
publisher = "Routledge",
number = "1",

}

RIS

TY - JOUR

T1 - Between competition and centralization

T2 - the new infrastructures of European finance

AU - Krarup, Troels

PY - 2019

Y1 - 2019

N2 - Ongoing European financial market integration relies on the creation of harmonized and centralized market infrastructures: the little-known institutions and systems that settle financial transactions across borders. Since the constitutional conception of market integration within the EU entails creating ‘a level playing field’ for competition, a fundamental problem emerges of how to provide that centralization and harmonization without violating the core principles of an open market economy either through private monopolization or public privatization. The paper presents a socio-technological study of a recent major infrastructure initiative by the European Central Bank, called Target2 Securities (T2S). Embedding the analysis of the struggles and debates around the birth and development of T2S in an analysis of the structural problem of competition and centralization in European financial market integration, the paper suggests an alternative perspective to that of performativity currently dominating the research field.

AB - Ongoing European financial market integration relies on the creation of harmonized and centralized market infrastructures: the little-known institutions and systems that settle financial transactions across borders. Since the constitutional conception of market integration within the EU entails creating ‘a level playing field’ for competition, a fundamental problem emerges of how to provide that centralization and harmonization without violating the core principles of an open market economy either through private monopolization or public privatization. The paper presents a socio-technological study of a recent major infrastructure initiative by the European Central Bank, called Target2 Securities (T2S). Embedding the analysis of the struggles and debates around the birth and development of T2S in an analysis of the structural problem of competition and centralization in European financial market integration, the paper suggests an alternative perspective to that of performativity currently dominating the research field.

KW - Faculty of Social Sciences

KW - finance

KW - social studies of finance

KW - competition

KW - market infrastructures

KW - European Central Bank (ECB)

KW - Target2-Securities

KW - finance

KW - social studies of finance

KW - competition

KW - market infrastructures

KW - European Central Bank (ECB)

KW - Target2-Securities

U2 - 10.1080/03085147.2019.1578064

DO - 10.1080/03085147.2019.1578064

M3 - Journal article

VL - 48

SP - 107

EP - 126

JO - Economy and Society

JF - Economy and Society

SN - 0308-5147

IS - 1

ER -

ID: 215926614