McKILLOP D. G. and HUTCHINSON R. W. (1991) Financial intermediaries and financial markets: a Unit... more McKILLOP D. G. and HUTCHINSON R. W. (1991) Financial intermediaries and financial markets: a United Kingdom regional perspective, Reg. Studies 25, 543–554. This paper attempts to identify, on a United Kingdom wide basis, the regional dispersion of the various groupings of financial markets and intermediaries. Although London dominates there is, however, evidence of significant pockets of autonomous financial intermediaries in certain of the regions. Having established the framework, the discussion proceeds to examine a selection of issues likely to impact upon the future growth performance of financial intermediaries at regional level. Three issues weigh particularly heavy in this part of the discussion: the added flexibility now on offer to financial intermediaries due to information technology; relocation within the financial services industry and its impact on regional financial sectors; and European integration, with special reference to regulation and the likely consequences for continued financial s...
In 1990 the Northern Ireland economy entered a period of economic downturn that lasted for seven ... more In 1990 the Northern Ireland economy entered a period of economic downturn that lasted for seven quarters. A range of factors were important in this reversal of economic fortunes. One factor, however, stands out: the policy adopted by the UK government, both in its fight against inflation, and in its attempt to maintain sterling’s parity within the exchange rate mechanism.
Recent reforms to pensions in the UK have been driven by low levels of retirement savings, increa... more Recent reforms to pensions in the UK have been driven by low levels of retirement savings, increased life expectancy and public expectations of standards of living in later life. The government has introduced auto-enrolment of employees into occupational schemes for the purposes of increasing the numbers of those saving for retirement. To lessen budget deficits, they are also seeking to introduce measures, which will make non-pension savings more attractive. The government’s desire to reduce budget deficits has made the future of State Pensions uncertain, and the onus of retirement provision is increasingly moving towards individuals. Consequently, more people are looking to use their house as a retirement asset. There has been a significant rise in the demand for mortgage products in the 65+ population, and an increasing number of consumers are taking out mortgages that will extend into their retirement. However, the existing mortgage market in the UK is not equipped to support the changing pattern in consumer needs. In addition, the changing political and social environment in the UK has created uncertainties in housing and mortgage markets. In this chapter, we report and explain current developments in pensions, housing and mortgage markets in the UK. Our analysis indicates that each of these sectors has reached a turning point necessitating significant responses from stakeholders and policymakers.
Annals of Public and Cooperative Economics, Sep 1, 2005
... In that this special issue concentrates upon the structure, con-duct and performance of finan... more ... In that this special issue concentrates upon the structure, con-duct and performance of financialcooperatives the ... either explicitly or implicitly, each paper also recognizes that to be successful, financial cooperatives must not only be champions of business efficiency but must ...
McKILLOP D. G. and HUTCHINSON R. W. (1991) Financial intermediaries and financial markets: a Unit... more McKILLOP D. G. and HUTCHINSON R. W. (1991) Financial intermediaries and financial markets: a United Kingdom regional perspective, Reg. Studies 25, 543–554. This paper attempts to identify, on a United Kingdom wide basis, the regional dispersion of the various groupings of financial markets and intermediaries. Although London dominates there is, however, evidence of significant pockets of autonomous financial intermediaries in certain of the regions. Having established the framework, the discussion proceeds to examine a selection of issues likely to impact upon the future growth performance of financial intermediaries at regional level. Three issues weigh particularly heavy in this part of the discussion: the added flexibility now on offer to financial intermediaries due to information technology; relocation within the financial services industry and its impact on regional financial sectors; and European integration, with special reference to regulation and the likely consequences for continued financial s...
In 1990 the Northern Ireland economy entered a period of economic downturn that lasted for seven ... more In 1990 the Northern Ireland economy entered a period of economic downturn that lasted for seven quarters. A range of factors were important in this reversal of economic fortunes. One factor, however, stands out: the policy adopted by the UK government, both in its fight against inflation, and in its attempt to maintain sterling’s parity within the exchange rate mechanism.
Recent reforms to pensions in the UK have been driven by low levels of retirement savings, increa... more Recent reforms to pensions in the UK have been driven by low levels of retirement savings, increased life expectancy and public expectations of standards of living in later life. The government has introduced auto-enrolment of employees into occupational schemes for the purposes of increasing the numbers of those saving for retirement. To lessen budget deficits, they are also seeking to introduce measures, which will make non-pension savings more attractive. The government’s desire to reduce budget deficits has made the future of State Pensions uncertain, and the onus of retirement provision is increasingly moving towards individuals. Consequently, more people are looking to use their house as a retirement asset. There has been a significant rise in the demand for mortgage products in the 65+ population, and an increasing number of consumers are taking out mortgages that will extend into their retirement. However, the existing mortgage market in the UK is not equipped to support the changing pattern in consumer needs. In addition, the changing political and social environment in the UK has created uncertainties in housing and mortgage markets. In this chapter, we report and explain current developments in pensions, housing and mortgage markets in the UK. Our analysis indicates that each of these sectors has reached a turning point necessitating significant responses from stakeholders and policymakers.
Annals of Public and Cooperative Economics, Sep 1, 2005
... In that this special issue concentrates upon the structure, con-duct and performance of finan... more ... In that this special issue concentrates upon the structure, con-duct and performance of financialcooperatives the ... either explicitly or implicitly, each paper also recognizes that to be successful, financial cooperatives must not only be champions of business efficiency but must ...
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Papers by Donal McKillop