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Key Facts

  • Project Start: Feb 15 2008
  • Project End: Feb 14 2010
  • Coordinator: German Institute for Economic Research (DIW Berlin)
  • EU Contribution:
    998 170 EUR

    • // FINESS Flyer

    Upcoming Events

  • May 10-11 2010, Brussels: International Policy Conference

    • // Programme

    Recent Events

  • April 26 2010, Berlin: Advisory and Steering Committee Meeting

  • January 2010: 4th Steering Group Meeting

  • Sept 14 2009, Berlin: 3rd Steering Group Meeting

  • March 5-6 2009, Berlin: International Scientific Conference

  • March 6 2009, Berlin: 2nd Steering Group and Advisory Committee Meeting

  • Sept 8 2008, Berlin: 1st Steering Group Meeting

  • Feb 22 2008, Berlin: Kick-off Meeting

    • Consortium

    Project Summary

    The collaborative research project

    "FINANCIAL SYSTEMS, EFFICIENCY AND STIMULATION OF SUSTAINABLE GROWH" (FINESS)

    is funded by the 7th Framework Programme of the European Commission within the Activity 8.1 "Growth, Employment and Competitiveness in a Knowledge Society - The European Case".

    The main purpose of FINESS is to get a clear understanding of the implications of ongoing financial market integration in Europe on economic growth, employment and competitiveness, to identify likely future paths of the development and to draw policy relevant conclusions. Several main breakthroughs will be achieved throughout the project. On the macroeconomic level, the role of financial systems and their transmission channels on growth will be explored by innovative and tailor made econometric techniques, taken dynamic interactions between financial, product and labour markets into account. A range of indicators to measure the degree of financial integration will be constructed, and their development in time will be addressed. Moreover, insights into the working of financial institutions will be provided for the microeconomic level from the perspective of heterogeneous agents. Empirical analysis will be done using elaborated econometric methods.

    The comparative approach undertaken by FINESS is especially useful to uncover catalysts and bottlenecks in the architecture of financial systems. By investigating unique datasets, the role of the financial structure, i.e. the banking sector, markets for private equity and venture capital, for improving efficiency and sustainable expansion of start ups and established firms is studied. Moreover, the impacts of different degrees of financial integration on the portfolio decisions of households are explored. Other topics are related to the transition period of the New Member States as well as to the gender dimension in turning impulses from the financial system into efficiency and growth. By fulfilling its goals, FINESS will provide in-depth knowledge on the relationship between financial systems and sustainable economic growth in a changing economic environment.

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