Attainable growth of societies and effectiveness of securities markets development strategy in the EU

G. Spais, G. Filis

    Research output: Contribution to journalArticlepeer-review


    The aim of this paper is to outline a model that indicates the relation between rate of society's attainable growth and degree of effectiveness of a development strategy for securities' markets. We argue that the European integration is driven in part by the anticipated benefits of European integration to individuals. Social, economic, and political characteristics of individuals are relevant to support because these determine the winners and losers of the integration process. The European Society needs to create the conditions in which competitive economic actors can thrive. In short, societies must nurture economic agents large and small, from the largest businesses and governmental organizations down to individual entrepreneurs and citizens. In frames of EU society's growth and prosperity, the integration of the European securities markets should be considered as a high priority strategic goal. This paper is of value to the academic community, as it is a conceptual paper trying to translate the literature review findings to a strategic multi-level model, which is needed. In this paper practitioners will identify some crucial practical insights. A disquieting point of our analysis are the clear marketing implications of the proposed integration, for financial organizations and institutions.
    Original languageEnglish
    Pages (from-to)196-211
    Number of pages16
    JournalJournal of Business & Society
    Issue number2
    Publication statusPublished - 2003


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