Governance of Financial Institutions and Markets in the EU

The Juraj Dobrila University of Pula and the Faculty of Economics and Tourism welcome you to the web pages of the Jean Monnet Module “Governance of Financial Institutions and Markets in the EU”

 

About the project

The main challenge in the EU post-crisis financial landscape is to identify a proper organizational structure for regulating and supervising – or governing, complex cross-sector and cross-border institutions and transactions. Policymakers and scholars are studying this problem and attempting to develop an optimal ‘governance framework’ within one or more Member State jurisdictions. Even in the years prior to the financial crisis EU policy makers stressed the importance of a higher level of coordination among competent authorities at national and EU level in steering finance. Finally, the last financial turmoil has led to an overwhelming regulatory reform and re-vamp of the organizational governance arrangements of the EU financial system. 

Against this background the project ‘Governance of Financial Institutions and Markets in the EU’ (acronym ‘GOFIMEU’) proposes a teaching upgrade and enhancement of the research in a compulsory course already being taught at the UNIPU. 

In view of increasing the interest in EU integration studies within the Croatian academia, the relevance of this project is substantive given the lack of a critical mass of research work addressing the issue of the optimal solutions for governance arrangements in EU finance. Consequently the project sets out to promote research on a specialized issue of European studies within the Croatian academic community, namely that of governance in the financial system, emphasizing the relationship between supranational operational structures and different regulatory approaches currently in use, and their ultimate impact on overall stability of EU finance.

The project “Governance of Financial Institutions and Markets in the EU” is expected to develop teaching, enhance research and stimulate reflection on EU governance studies at the level of the UNIPU and in Croatia. Its primary target are graduate students in Economics (within and outside the UNIPU) especially those whose specialization in the project’s topic is imperative for a professional career in finance – in their home country or within the EU. At the same time the project’s secondary target are UNIPU’s academics among which the project intends to mainstream teaching on specialized subjects in EU integration studies. Henceforth it is expected that the project will not only give a ‘European perspective’ to the future professional life of graduates but also promote the extension of a ‘European angle’ in teaching and research.  

 

Meet the project team

 

Marta Božina Beroš, PhD (Module leader)

Assistant Professor at the Faculty of Economics and Tourism “Dr. Mijo Mirković” at the Juraj Dobrila University in Pula affiliated to the Chair of Finance. Co-founder and research coordinator of the University’s Center for European Research. Her main academic interest is regulatory governance of EU finance and financial stability, issues on which she has authored and co-authored several papers. She has obtained her PhD in 2012 with a doctoral dissertation focused entirely on the post-crisis reforms in EU financial regulation and supervision. Her research in the fields of EU regulatory governance has won her two international research scholarships (UNIDROIT and Japan Foundation). Visiting researcher at several esteemed universities and research centres; she is also guest lecturer at the JM Autumn School on the ‘Europeanisation of Payment System’ at the University of Siena.  Fluent in English, Italian and Spanish.

Learn more about her work on the following web-page: /fet/marta.bozina_beros

Ines Kersan-Škabić, PhD

Full professor at the Faculty of Economics and Tourism “Dr. Mijo Mirković” at the Juraj Dobrila University in Pula and Head of the Chair of National and International Economics. Her main academic interest is EU economics and cohesion policies, subjects on which she has authored and co-authored numerous papers in peer-reviewed journals as well as one academic textbook. Prof. Kersan-Škabić is co-founder and director of the University’s Center for European Research at the UNIPU and academic coordinator of a JM European Module. She serves as member on the Board for Ethics in Science of the Croatian Agency for Science and Higher Education. Initiator and coordinator of several development projects with the regional community, she brings practical expertise and a quantitative angle to the project. Fluent in English, in the proposed project Prof. Kersan-Škabić has the role of visiting (guest) lecturer.

Learn more about her work on the following web-page: /fet/ines.kersan-skabic

 

Ivana Bajakić, PhD

Associate Professor at the Faculty of Law University of Zagreb affiliated to the Chair of Economic Policy, her main academic interest and expertise are in European economic policy, EU financial markets regulation (securities law) and EU investor protection, issues on which she has authored and co-authored several papers and publications. An alumna of the Lund University and a visiting researcher at several esteemed research institutes and centres in Europe, she is currently working on a project managed by the Croatian Financial Services Supervisory Agency on the issue of MiFID implementation in Croatia. She is fluent in English and German. In the proposed project, Prof. Bajakić has the role of visiting (guest) lecturer.

Learn more about her work on the following web-page: http://www.pravo.unizg.hr/ivana.bajakic

 

What is the project about?

 

Teaching

GOFIMEU familiarizes students with a specialized topic in EU finance, namely that of governance of financial institutions and markets through EU ‘policing’. By surveying various regulatory and financial policies developed at EU level it informs students on the impact these policies exert across Member States, the theoretical and practical problems arising from their implementation, and the evolution of key financial entities in the EU in response to policy reforms after the last crisis. Students learn how the choice of financial system models (bank oriented v. market oriented), as well as the implementation of common regulatory and supervisory arrangements, affects overall financial stability in the EU. In addition, the course examines the regulatory approach toward complex financial institutions, assets and transactions (e.g. hedge funds and derivatives) that are used across EU Member States as ‘efficient tool of risk management’. Special consideration is given to the substantive institutional and policy reform in view of maintaining financial stability, and in response to the recent crisis. 

After completing the course the students will be able to:

  1. Assess the main theoretical and practical differences between various financial institutions active on the EU financial markets
  2. Identify the legal structure of complex financial assets and transactions, as well as their economic functions in the markets and the effect on overall financial stability in the EU
  3. Critically evaluate the transmission mechanism between EU’s policy measures and financial stability on the (supra)national level
  4. Understand the newly established financial stability framework in the EU and identify its key institutional components (e.g. the European Banking Union)
  5. Determine whether the emerging stability framework supports future development of financial integration in the EU.

Learn more about the course structure on the following link (In Croatian only):


Events

Doc.dr.sc. Marta Božina Beroš sudjelovala na pozvanom izlaganju međunarodne istraživačke skupine TARN na European University Institute

Ivica Petrinić

http://tarn.maastrichtuniversity.nl/second-video-florence-conference-online/ U studenom 2016. godine održala se  1. TARN-ova međunarodna konferencija na temu 'Constitutionality, powers and legitimacy of EU agencies and agency-like bodies' pri Robert Schuman Centre for Advanced Studies, European University Institute, u Firenci. Docentica Marta Božina Beroš pozvana je na izlaganje dijela svog istraživanja na temu upravljanja i odgovornosti Jedinstvenog sanacijskog odbora. Poveznica vas vodi na snimku tog izlaganja.

Research

Marta Božina Beroš' current research focuses on EMU developments in light of “variable geometry” challenges and the fragmentation of the internal market for banking.

 

Publications

Book

'EMU Post-Crisis: Selected Topics', Pula: Juraj Dobrila University of Pula (ISBN: 978-953-7320-62-1)

Articles

'Examining Agency Governance in the EU Financial Sector – A Case Study of ESMA' (co-authored with Bajakić, Ivana), Economic Research, DOI: 10.1080/1331677X.2017.1383170

Working Papers

'Some Reflections on the Governance and Accountability of the Single Resolution Board', TARN Working Paper Series No. 3

 

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