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The Subprime Crisis and the European Banking Sector: the Renewal of Universal Banks?

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  • Elisabeth Paulet

    ()
    (ESCEM - Ecole Supérieure de Commerce et de Management, Tours-Poitiers, France)

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    Abstract

    Since the 90's, European banks have sustained numerous structural disturbances. Their degree of integration combined with the universality of our institutions in the banking sector may then be an important factor to take into account in appreciating its resistance to systemic shocks. In this first part, the correlation between size and systemic risk will be discussed. The current financial deregulation has permitted the entry onto the market of institutions, which are traditionally non-banking institutions (insurance companies, institutional investors, pension funds). It would be interesting to measure the influence of these newcomers on the evolution of banking integration. This is the object of part two of this analysis. The last stage will consist in an attempt to evaluate the systemic risk in the framework of the new financial environment. The subprime crisis and the unequal reaction of banking institutions will lead us to two questions: "Will this crisis lead to a renewal of the predominance for universal banks?" and "Will the new process of integration in banking sector guarantee stability at the international level?"

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    Bibliographic Info

    Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

    Volume (Year): 11 (2009)
    Issue (Month): Number Special 3 (November)
    Pages: 684-697

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    Handle: RePEc:aes:amfeco:v:11:y:2009:i:number_special_3:p:684-697

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    Keywords: crisis; universal banks; size; efficiency; globalization;

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    1. Altunbas, Yener & Molyneux, Philip & Thornton, John, 1997. "Big-Bank Mergers in Europe: An Analysis of the Cost Implications," Economica, London School of Economics and Political Science, vol. 64(254), pages 317-29, May.
    2. Mark A. Peterson & Erik R. Sirri, 2003. "Order Preferencing and Market Quality on U.S. Equity Exchanges," Review of Financial Studies, Society for Financial Studies, vol. 16(2), pages 385-415.
    3. Lucjan T. Orlowski, 2008. "Stages of the Ongoing Global Financial Crisis: Is There a Wandering Asset Bubble?," IWH Discussion Papers 11, Halle Institute for Economic Research.
    4. Altunbas, Yener & Evans, Lynne & Molyneux, Philip, 2001. "Bank Ownership and Efficiency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(4), pages 926-54, November.
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