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Deregulation of the European Banking Industry (1980-1991)

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  • Gual, Jordi
  • Neven, Damien J

Abstract

In this paper the experience of deregulation in the banking sector of seven EC countries (Belgium, France, Germany, Italy, the Netherlands, Spain and the UK) is analysed. Lessons are drawn for assessment of how the EC directives affecting this sector could further affect the industry. Our findings broadly confirm intuition: there is some evidence that firms in protected markets earn large rents, which are partly dissipated in excessive costs and captured by workers. Conduct deregulation seems to be effective in triggering more intense price competition; as deregulation takes place, profits are reduced, cost control is improved but wages appear somewhat more sticky. We observe that restructuring seems to take place in the product rather than the capital market and that trade is a significant pro-competitive force.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 703.

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Date of creation: Aug 1992
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Handle: RePEc:cpr:ceprdp:703

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Related research

Keywords: Banking Regulation; European Integration;

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Cited by:
  1. Gual, Jordi, 2004. "The Integration of EU Banking Markets," CEPR Discussion Papers, C.E.P.R. Discussion Papers 4212, C.E.P.R. Discussion Papers.
  2. Leo Haan & Elmer Sterken, 2011. "Bank-Specific Daily Interest Rate Adjustment in the Dutch Mortgage Market," Journal of Financial Services Research, Springer, Springer, vol. 39(3), pages 145-159, June.
  3. Fabio Ghironi & Viktors Stebunovs, 2010. "The Domestic and International Effects of Interstate U.S. Banking," NBER Working Papers 16613, National Bureau of Economic Research, Inc.
  4. Paul Evans & Iftekhar Hasan & Ana Lozano-Vivas, 2008. "Deregulation and Convergence of Banking: The EU Experience," Finnish Economic Papers, Finnish Economic Association, Finnish Economic Association, vol. 21(2), pages 104-117, Autumn.
  5. Gary C. Zimmerman, 1995. "Implementing the single banking market in Europe," Economic Review, Federal Reserve Bank of San Francisco, pages 35-51.
  6. Fischer, Karl-Hermann & Pfeil, Christian, 2003. "Regulation and Competition in German Banking: An Assessment," CFS Working Paper Series 2003/19, Center for Financial Studies (CFS).
  7. Gual, Jordi, 2003. "Integration of EU banking markets, The," IESE Research Papers D/504, IESE Business School.
  8. Thomas Gehrig, 1995. "Capital Adequacy Rules: Implications for Banks' Risk-Taking," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), Swiss Society of Economics and Statistics (SSES), vol. 131(IV), pages 747-764, December.
  9. Vives, Xavier, 2005. "Innovation and Competitive Pressure," Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley qt1s1059vr, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  10. Ark, Bart van & Haan, Jakob de, 1996. "Enhancing growth through structural reform : a study of the Dutch economy from 1960 to 1994," Research Report 96C16, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  11. Robert N. McCauley & William R. White, 1997. "The Euro and European financial markets," BIS Working Papers 41, Bank for International Settlements.
  12. Jacques Le Cacheux & Thomas Lambert & Audrey Mahuet, 1997. "L'épidémie de crises bancaires dans les pays de l'OCDE," Revue de l'OFCE, Programme National Persée, vol. 61(1), pages 93-138.
  13. repec:spo:wpecon:info:hdl:2441/2097 is not listed on IDEAS
  14. Ana Lozano-Vivas & Miguel Meléndez-Jiménez & Antonio Morales, 2011. "With whom to merge? A tale of the Spanish banking deregulation process," SERIEs, Spanish Economic Association, vol. 2(2), pages 159-184, June.
  15. Humphrey, David B. & Setsuya, Sato & Masayoshi, Tsurumi & Vesala, Jukka M., 1996. "The evolution of payments in Europe, Japan, and the U.S. : lessons for emerging market economies," Policy Research Working Paper Series 1676, The World Bank.
  16. J.A. Bikker & J.M. Groeneveld, 1998. "Competition and Concentration in the EU Banking Industry," Research Series Supervision (discontinued), Netherlands Central Bank, Directorate Supervision 8, Netherlands Central Bank, Directorate Supervision.

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