The economic and financial crisis has intensified in many countries around the World. Five years after its start, one may naturally wonder why it has gained in virulence and intensity. However, in the particular case of the financial crisis (which is difficult to disentangle from the economic crisis) the effects have been heterogeneous across countries, largely due to the fact that the levels of financial and banking integration also differ remarkably across them.

Right before the start of the financial crisis there were numerous initiatives to boost the levels of international financial integration and globalization, especially in the European Union (EU), among which one may highlight the Financial Services Action Plan. Some of these initiatives and, especially, the adoption of the euro by many EU countries resulted into a boost in the levels of financial and banking integration in most of these countries.

However, the alleged benefits of financial and banking integration are now partially put into question, especially in some euro area countries, where the relatively easy access to the international financial markets during the expansion years might have turned into a disadvantage. This has led some countries to be affected to what could be a different type of bank run than the ones that existed on the past, namely a run on their wholesale funding rather than on their deposit funding.

In this scenario, the aim of the workshop will be to deal with different aspects of financial and banking integration from a variety of perspectives, including the introduction of indices which measure international financial integration from both the perspectives of prices and quantities, network approaches which consider elements derived from network analysis theory, the interactions among financial and banking regulation and international markets, and related topics which attempt to understand why markets that are seemingly unconnected in normal times may become connected in times of financial and banking distress.

The topics will be discussed by different people from academia, think tanks, and other prestigious institutions. Their varying backgrounds will also allow to have different points of view on the topics discussed at the workshop.

Iván Arribas, Universitat de València and Ivie
Emili Tortosa Ausina, Universitat Jaume I and Ivie

Iván Arribas, Universitat de València and Ivie
Giorgio Fagiolo, Laboratory of Economics and Management at the Sant’ Anna School of Advanced Studies
Co-Pierre Georg, Deutsche Bundesbank and Oxford University
Alfredo Martin, Universitat de les Illes Balears
Mattia Montagna, Kiel Institute
Francisco Pérez, Universitat de València and Ivie
Francisco Rodríguez, Universidad de Granada
Emili Tortosa, Universitat Jaume I and Ivie.

Ivie
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