Reporting Template
Work Package 2 Progress – Period 1 (01/12/2011 – 31/05/2013)
-
WP partners must send completed templates to the WP leader by 09/04/2013
for their initial review.
-
WP leaders must collect and summarise the sections from the other partners
and send to Helen Evans by 29/04/2013 for Malcolm Sawyer to review each
WP (and any necessary editing by WPLs) by 20/05/2013.
-
Once this has been completed each Steering Committee member needs to
read the first draft report (by 07/06/2013). This then allows 2 weeks for final
editing by partners (24/06/2013) and WPLs and Malcolm (01/07/2013) and
final Steering Committee review for consortium wide agreement (by
08/07/2013). With the final report ready ahead of time to allow for any
unforeseen leave and postal delays regarding the submission of signed
documents by post to Leeds (and then sent from Leeds on behalf of the
consortium as one parcel to the E.C).
BACKGROUND INFORMATION
WP Title
Comparative Perspectives on Financial Systems in
the EU
WP Leader
Other WP Partners
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Andrew Brown
Alessandro Vercelli
Jan Toporowski
Jerome Creel
Magda Tancau
Wlodzimierz Dymarski
Rainer Kattel
Eckhard Hein
Ana Santos
Szabolcs Szikszai
Giorgos Argeitis
Galip Yalman
Eric Clark
Rex McKenzie
Jesus Ferreiro
Planned Objectives
Objectives

To review, debate and substantially develop the theory and methodology that
is relevant to financialisation and to financial systems. The development will
combine theories of financialisation with well-known typologies of financial
systems. It will provide a common framework for understanding and dialogue
across the many different theoretical perspectives and disciplines represented
in FESSUD.

To systematically describe and analyse the evolution of national financial
systems within the EU, and also of the US of Turkey and of South Africa
during the period of financialisation (the past three decades). The analysis
will, inter alia, provide an evidence base for subsequent work packages.

To describe and analyse the evolution and integration of the EU financial
system as a whole (and within that the Economic and Monetary Union), both
in aggregate terms and through synthesis of the individual country reports.
Tasks
Task 1
The development of terms of reference for the description and analysis of the
evolution of financial systems in the EU in the period of financialisation
Task 2
The completion of major studies systematically drawing together secondary
data on the financial system in a wide range of European countries chosen to
reflect the diversities of experience and geographical spread of those
countries. The countries covered will be those represented by the partner
institutions plus the US. These studies will conform with the terms of
reference for this work package, ensuring comparability across countries.
They will cover the present structures and institutions of the financial system,
and will provide analyses of the evolution of the financial system over the
decades of financialisation
Task 3
A study on the European financial system as a whole, focusing on the
analysis of the degree to which it could be said that an integrated European
financial market and system has been developing
Task 4
Reviews and syntheses of (i) the financialisation literature; (ii) the
comparative literatures on financial, economic and social systems; (iii) the
literature on the role of finance in growth, development and of crisis).
Objective and task relationships:
Task
Objective 1 4
5
Objective 2 1, 2
6
Objective 3 3
6
Deliverable
2.5, 2.6,2.7,2.8, 2.9
2.10,2.11
2.1, 2.2, 2.3
2.12
2.4
2.12
PLEASE COMPLETE THE FOLLOWING SECTION
Please provide a concise overview of the progress of the work undertaken.
Summary of progress towards objectives and details for each task
Identify partners involved.
Please write a paragraph summarising the progress towards the planned objectives
listed below.

To review, debate and substantially develop the theory and methodology that
is relevant to financialisation and to financial systems. The development will
combine theories of financialisation with well-known typologies of financial
systems. It will provide a common framework for understanding and dialogue
across the many different theoretical perspectives and disciplines represented
in FESSUD.

To systematically describe and analyse the evolution of national financial
systems within the EU, and also of the US of Turkey and of South Africa
during the period of financialisation (the past three decades). The analysis
will, inter alia, provide an evidence base for subsequent work packages.

To describe and analyse the evolution and integration of the EU financial
system as a whole (and within that the Economic and Monetary Union), both
in aggregate terms and through synthesis of the individual country reports.
Then:
State the progress of each task listed below referencing Annex I.
 Task 1. The development of terms of reference for the description and
analysis of the evolution of financial systems in the EU in the period of
financialisation.
Please complete

Task 2. The completion of major studies systematically drawing together
secondary data on the financial system in a wide range of European countries
chosen to reflect the diversities of experience and geographical spread of
those countries. The countries covered will be those represented by the
partner institutions plus the US. These studies will conform with the terms of
reference for this work package, ensuring comparability across countries.
They will cover the present structures and institutions of the financial system,
and will provide analyses of the evolution of the financial system over the
decades of financialisation
Please complete

Task 3. A study on the European financial system as a whole, focusing on the
analysis of the degree to which it could be said that an integrated European
financial market and system has been developing
Please complete

Task 4. Reviews and syntheses of (i) the financialisation literature; (ii) the
comparative literatures on financial, economic and social systems; (iii) the
literature on the role of finance in growth, development and of crisis).
Please complete

Task 5 In line with the general rationale of philosophical pluralism and practical
synthsesis that underlies FESSUD, Task 5 will collectively identify and
explore key (i) philosophical / methodological and (ii) policy issues with a view
to maximising the integration, synthesis and policy relevance of work package
2 and so of FESSUD as a whole.
Please complete

Task 6 A synthesis of the reports from tasks 2 for each country and task 3 for
the European financial system to draw comparisons between countries and to
reconstruct in thought the process of financialisation in terms of the
underlying causal and systemic processes at work.
Highlight clearly significant results
Reference planned objectives

To review, debate and substantially develop the theory and methodology that
is relevant to financialisation and to financial systems. The development will
combine theories of financialisation with well-known typologies of financial
systems. It will provide a common framework for understanding and dialogue
across the many different theoretical perspectives and disciplines represented
in FESSUD
Please complete

To systematically describe and analyse the evolution of national financial
systems within the EU, and also of the US of Turkey and of South Africa
during the period of financialisation (the past three decades). The analysis
will, inter alia, provide an evidence base for subsequent work packages.
Please complete

. To describe and analyse the evolution and integration of the EU financial
system as a whole (and within that the Economic and Monetary Union), both
in aggregate terms and through synthesis of the individual country reports.
Please complete
If applicable, explain the reasons for deviations from Annex I and their impact on other
tasks as well as on available resources
Please complete if you have deviated from Annex I
If applicable, reasons for failing to achieve critical objectives and/or not being on
schedule and explain the impact on other tasks as well as on available resources and
planning
Please complete
Provide a statement on the use of resources, in particular highlighting and explaining
deviations between actual and planned person-months per work package and per
beneficiary
Please seek advice from your Institution’s Research Office regarding the number of
actual man-months used.
Please provide a brief statement on the number of actual person months used.
Partner
1
2
3
Number of person
months (over the whole
project) for this WP
Malcolm Sawyer
Alessandro
Vercelli
Jan Toporowski
32
12
Number of person
months used this period
(01/12/11 – 31/05/13)
enter actual number
enter actual number
8
enter actual number
4
5
6
Jerome Creel
Magda Tancau
Wlodzimierz
Dymarski
Rainer Kattel
Eckhard Hein
Ana Santos
Szabolcs Szikszai
Giorgos Argeitis
Galip Yalman
Eric Clark
Rex McKenzie
Jesus Ferreiro
7
8
9
10
11
12
13
14
15
8
8
8
enter actual number
enter actual number
enter actual number
8
15
8
8
9
8
4
8
8
enter actual number
enter actual number
enter actual number
enter actual number
enter actual number
enter actual number
enter actual number
enter actual number
If applicable, propose corrective actions
Please complete
Use of foreground and dissemination activities during this period
Table 2. Publications
Title
FESSUD
Author(s)
Periodical/Book
Number/
Frequenc
y
Date of
publication
Relevant
pages
1
Table 3.1 Examples of dissemination to the public domain
Source
Title
Web address
Date
Table 3.2 Example of dissemination at a Scientific Conference
Date
Talk title
Chair
Conference title
Only Work Package leaders need to complete the deliverables, milestones and
co-ordination tables, listed on the next page, on behalf of the whole Work
Package.
WP Co-ordination activities during this period:
Date
Meeting
Location
Meeting
Across 1518/06/12
02/07/2012
WP2
Skype
WP2
Bilbao
26/11/2012
WP2
Email
Meeting with each beneficiary involved to discuss progress and
gain feedback on the work under Task 2, WP2.
To discuss and workshop as a group on progress/issues with
WP2 task 2 and finalise WP2 task4 allocation.
Co-ordination of topics across task 4 to avoid overlap.
Work Package problems/issues solved:



Del. no.
Deliverables
ONLY THE WORK PACKAGE LEADER NEEDS TO COMPLETE THIS TABLE ON BEHALF OF THE WHOLE WORK PACKAGE
Complete the actual/forecasted completion date for each deliverable.
Deliverables that are not written reports e.g. prototype, demonstrator or other should also be accompanied by a short report, so that the
European Commission has a record of their existence.
Due delivery date is calculated from the start date of the project, 01/12/2011
Deliverable name
WP
no.
Lead
participant
Nature
Dissemination
level
Due delivery
date (month 1
= 01/12/2011
31/12/2011)
Delivered
Yes/No
Yes
D 2.01
D 2.02
Terms of Reference
2
1
R
PU
Month 2
Reports on financial system
2
1
R
PU
Month 12
D 2.03
2
1
R
PU
Month 12
2
1
R
PU
Month 12
D 2.05
Report on financial system of range of
countries not included under D2.2
Paper on financial system of the EU
under task 3
Paper on Theories of finance
2
1
R
PU
Month 18
D 2.06
Paper on Theories of financial crisis
2
3
R
PU
Month 18
D2.07
Paper and theories of crisis based on
information theoretic approaches and
on behavioural finance
Paper on comparative literatures
on financial, economic and social
systems.
Synthesis of Perspectives on
Financialisation
Paper: Integrating economics with the
other human (and related) sciences:
some initial considerations
2
3
R
PU
Month 18
2
8
R
PU
Month 24
2
1
R
PU
Month 12
2
1
R
PU
Month 12
D 2.04
D2.08
D2.09
D2.10
Actual /
Forecast
delivery date
e.g. month
18
Month 3
Comments
D2.11
D2.12
R= Report
Paper: Methodological issues in
theorising the financial, economic and
social system: realistic and
Synthesis report under task 6
CO= Confidential
PU= Public
2
1
R
PU
Month 12
2
1
R
PU
Month 24
Milestones
ONLY THE WORK PACKAGE LEADER NEEDS TO COMPLETE THIS TABLE ON BEHALF OF THE WHOLE WORK PACKAGE
Milestone
no.
MS5
.
M
M
M
M
M
Milestone name
Report by WP leader to executive board of
completion of WP2
Due achievement
date (month 0 =
01/02/2008)
Month 24
Achieved
Yes/No
Actual / Forecast
achievement date
e.g. month 18
Comments