14  Benigno G., and Fornaro L., (2014), “The financial resource curse”, The Scandinavian Journal of Economics, 116 (1), pp. 58–86; Benigno G., Converse N., and Fornaro L., (2015), “Large capital flows, sectoral allocation and economic performance”, Journal of International Money and Finance, forthcoming; Jorda, O., Schularick M., and Taylor A. M., (2015),“The great mortgaging, crises and business cycle”, NBER Working Paper 20501.
The same applies to other segments of the financial system, such as the corporate bond market, which have considerably matured since the introduction of the euro. This faith in markets brings me on to the issue that I wanted to raise with you this evening: the need for further - and complete - integration of the European Union's financial markets.