Toward an Integrated European Capital Market: Lessons from the U.S. and Policy Imperatives for the EU
Abstract
The study compares EU and U.S. capital markets to assess how market fragmentation, the absence of a unified EU securities regulator, reduced IPO attractiveness, and politically rooted integration barriers affect the EU’s global competitiveness. By analyzing aggregate data, consulting policy documents (the Draghi Report, CMU, and SIU initiatives), reviewing academic literature, and conducting expert interviews, the study identifies core obstacles to deeper market integration. The findings will yield realistic policy recommendations for EU institutions and provide strategic guidance for companies, thereby supporting the development of a more integrated, investor-friendly, and globally competitive European economy.
Fields of Study & Subjects
Finance
Markets
and Regulation
Global Financial Regulation and Crises
European Union Policy and Governance
Publication details
- Journal / source
- Journal of East-West Business
- Volume
- 32
- Issue
- 3
- Pages
- 264–303
- Publication date
- 16 January 2026
- Language
- EN