Please introduce yourself and the background of your stay as Research Fellow in Tübingen in one or two sentences.
I am José Zapata Sevilla, assistant professor at the University of Málaga. I am delighted to join the University of Tübingen to contribute on my lecturing and research domains.
Which problem or question does your research address and what fascinates you about your research area?
Why there is no financial integration in the European Union despite being a single market? Financial integration entails the “law of a single price”, meaning that financial products and services should have the same price regardless of the location of the transaction parties. Instead, there is currently a situation of financial fragmentation, where financial actors are strongly “home bias”, the jurisdiction of the subject matters to determine its financial risks and the benefits of the single market are underused. Moreover, this background persists despite the enactment of the “Banking Union”.
It is fascinating to join the discussion about the causes of such a intricated question and the measures to break the deadlock.
Please briefly outline the social relevance of your research.
The European Union is carrying out an industrial and energetic transition relying on digitalisation and the deployment of clean energies amid an increasingly complicated geopolitical context. This transformation requires large number of investments to fund it. Therefore, the future of the EU economic performance is tied to the scale and competitiveness of the European banking system. In this regard, financial integration is paramount to promote a banking system meeting the needs of the EU member states.
Where do you see future opportunities for international and interdisciplinary cooperation for the university, and what role can an institution like the College of Fellows play in this?
Further integration at the EU level cannot work without taking in account the member states national needs following an interdisciplinary perspective. A breakthrough in this field can only occur after putting together the economic, legal and institutional factors affecting cross border banking activities. The College of Fellows brings together international researchers belonging to different expert areas whose ideas will inspire my research results.