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"Does Size Matter?" Financial Restructuring Under Emu

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  • Molyneux, Philip

    (University of Wales, Erasmus University)

Abstract

This paper examines the main structural and performance features of European banking. It shows that while banking markets have become increasingly concentrated and bank numbers have fallen, competition appears to have intensified. Given the large number of banks and branches in many countries there still remain indicators of excess capacity in the system and that the consolidation trend, especially with the advent of EMU, will continue. A major theme of this paper is that market concentration and bank size are poor indicators of market power. There is also increasing evidence that large European banks have efficiency advantages over their smaller counterparts. They also appear to benefit more from technological progress. Most of the available evidence points to increasing concentration across European banking markets. However, there is little evidence to suggest that market structure and bank size strongly influence performance. Important strategic drivers, such as deregulation and technological change, are transforming the economics of the industry, lowering entry barriers and making markets more contestable. Given the increasingly wide range of financial service providers, the larger 'domestic' market created by EMU and the current competitive environment, concentration in domestic commercial banking markets is becoming a less relevant antitrust issue

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File URL: http://www.intech.unu.edu/publications/eifc-tf-papers/eifc03-30.pdf
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Bibliographic Info

Paper provided by United Nations University, Institute for New Technologies in its series EIFC - Technology and Finance Working Papers with number 30.

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Date of creation: 2003
Date of revision:
Handle: RePEc:dgr:unutaf:eifc03-30

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Web page: http://www.intech.unu.edu

Related research

Keywords: scale economies; financial integration; European banking; EMU;

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Cited by:
  1. Coccorese, Paolo, 2009. "Market power in local banking monopolies," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1196-1210, July.
  2. Cândida Ferreira, 2011. "European integration and banking efficiency: a panel cost frontier approach," Working Papers Department of Economics 2011/04, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  3. Farina, Vincenzo, 2008. "Banks’ centrality in corporate interlock networks: evidences in Italy," MPRA Paper 11698, University Library of Munich, Germany.
  4. Luiz Fernando Rodrigues de Paula, 2001. "Expansion Strategies of European Banks to Brazil and Their Impacts on the Brazilian Banking Sector," Anais do XXIX Encontro Nacional de Economia [Proceedings of the 29th Brazilian Economics Meeting] 044, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  5. Stoneman, Paul & Canepa, Alessandra & Kaivanto, Kim, 2004. "The Public Provision of Sales Contingent Contracts as a Policy Response to Financial Constraints to Innovation in European SMEs," EIFC - Technology and Finance Working Papers 38, United Nations University, Institute for New Technologies.
  6. Stoneman, Paul, 2001. "Heterogeneity and Change in European Financial Environments," EIFC - Technology and Finance Working Papers 7, United Nations University, Institute for New Technologies.

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