Embedding financial competitiveness as a regulatory objective to boost Europe’s productivity

EXECUTIVE SUMMARY 2
1. INTRODUCTION 3
2. FINANCIAL COMPETITIVENESS AS A REGULATORY OBJECTIVE 6
 2.1. WHY COMPETITIVENESS AS A REGULATORY OBJECTIVE 6
 2.2. DEFINING SYSTEMIC FINANCIAL COMPETITIVENESS 9
3. MEASURING THE FOUR PILLARS: KPI FRAMEWORK AND DESCRIPTIVE DIAGNOSTICS 15
 3.1. CONCEPTUAL FRAMEWORK FOR MEASUREMENT 15
 3.2. DESCRIPTIVE ANALYSIS BY COMPETITIVENESS DIMENSION 17
4. POLICY RECOMMENDATIONS FOR ENHANCING EUROPEAN FINANCIAL COMPETITIVENESS 37
 4.1. INTEGRATING COMPETITIVENESS INTO REGULATORY FRAMEWORKS. 37
 4.2. MONITORING AND ACCOUNTABILITY MECHANISMS 38
 4.3. EVIDENCE-BASED POLICY PRIORITIES 39
 4.4. IMPLEMENTATION AND EVOLUTION 41
5. CONCLUSIONS 43