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Recent Developments in European Bank Competition

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  • Yu Sun
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    Abstract

    This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition. The results suggest that the level of bank competition converged across euro area countries in the wake of the EMU. The recent global financial crisis led to a fall in competition in several countries and especially where large credit and housing booms had preceded the crisis..

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/146.

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    Length: 25
    Date of creation: 01 Jun 2011
    Date of revision:
    Handle: RePEc:imf:imfwpa:11/146

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    Related research

    Keywords: Banks; Economic models; competition; banking; bank competition; banking system; monopoly; banking sector; monopolistic competition; perfect competition; competitive market; banking industry; bank activities; bank regulation; bank entry; competitive equilibrium; banking systems; banking sectors; degree of competition; net interest margin; determinants of competition; competition policies; bank restructuring; banking services; bank market; price competition; bank size; country comparison; bank holding; banking license; return on assets; bank assets; market concentration; concentration index; bank holding companies; bank run; bank policy; market competition;

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    References

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    1. De Bandt, Olivier & Davis, E. Philip, 2000. "Competition, contestability and market structure in European banking sectors on the eve of EMU," Journal of Banking & Finance, Elsevier, Elsevier, vol. 24(6), pages 1045-1066, June.
    2. Barth, James R. & Caprio, Gerard, Jr. & Levine, Ross, 2008. "Bank regulations are changing : for better or worse ?," Policy Research Working Paper Series 4646, The World Bank.
    3. Alli Nathan & Edwin H. Neave, 1989. "Competition and Contestability in Canada's Financial System: Empirical Results," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 22(3), pages 576-94, August.
    4. Carbó, Santiago & Humphrey, David & Maudos, Joaquín & Molyneux, Philip, 2009. "Cross-country comparisons of competition and pricing power in European banking," Journal of International Money and Finance, Elsevier, Elsevier, vol. 28(1), pages 115-134, February.
    5. Besanko, David & Thakor, Anjan V., 1992. "Banking deregulation: Allocational consequences of relaxing entry barriers," Journal of Banking & Finance, Elsevier, Elsevier, vol. 16(5), pages 909-932, September.
    6. Claessens, Stijn & Laeven, Luc, 2005. "Financial dependence, banking sector competition, and economic growth," Policy Research Working Paper Series 3481, The World Bank.
    7. J.A. Bikker & Sherril Shaffer & Laura Spierdijk, 2009. "Assessing competition with the Panzar-Rosse model: the role of scale, costs, and equilibrium," Working Papers, Utrecht School of Economics 09-27, Utrecht School of Economics.
    8. Gerard Caprio & James Barth & Ross Levine, 2008. "Bank Regulations Are Changing: But For Better or Worse?," Department of Economics Working Papers, Department of Economics, Williams College 2008-09, Department of Economics, Williams College.
    9. Claessens, Stijn & Laeven, Luc, 2003. "What drives bank competition? some international evidence," Policy Research Working Paper Series 3113, The World Bank.
    10. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna.
    11. Barth, James R. & Caprio Jr, Gerard & Levine, Ross, 2001. "The regulation and supervision of banks around the world - a new database," Policy Research Working Paper Series 2588, The World Bank.
    12. Shaffer, Sherrill, 2001. "Banking conduct before the European single banking license: a cross-country comparison," The North American Journal of Economics and Finance, Elsevier, Elsevier, vol. 12(1), pages 79-104, March.
    13. John H. Boyd & Gianni De Nicoló & Abu M. Jalal, 2009. "Bank Competition, Risk and Asset Allocations," IMF Working Papers 09/143, International Monetary Fund.
    14. J.A. Bikker & Laura Spierdijk, 2008. "How Banking Competition changed over Time," Working Papers, Utrecht School of Economics 08-04, Utrecht School of Economics.
    15. James R Barth & Gerard Caprio & Ross Levine, 2008. "Bank Regulations are Changing: For Better or Worse?," Comparative Economic Studies, Palgrave Macmillan, vol. 50(4), pages 537-563, December.
    16. Stijn Claessens, 2009. "Competition in the Financial Sector," IMF Working Papers 09/45, International Monetary Fund.
    17. Panzar, John C & Rosse, James N, 1987. "Testing for "Monopoly" Equilibrium," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 35(4), pages 443-56, June.
    18. Roberto M. Samaniego, 2010. "Entry, Exit, and Investment-Specific Technical Change," American Economic Review, American Economic Association, American Economic Association, vol. 100(1), pages 164-92, March.
    19. Anna Ilyina & Roberto M. Samaniego, 2008. "Technology and Finance," IMF Working Papers 08/182, International Monetary Fund.
    20. Shaffer, Sherrill, 2004. "Comment on "What Drives Bank Competition? Some International Evidence" by Stijn Claessens and Luc Laeven," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 36(3), pages 585-92, June.
    21. Geert Bekaert & Campbell R. Harvey & Christian Lundblad, 2001. "Does Financial Liberalization Spur Growth?," NBER Working Papers 8245, National Bureau of Economic Research, Inc.
    22. 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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    Citations

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    Cited by:
    1. Bana Abuzayed & Nedal Al-Fayoumi & Hisham Gharaibeh, 2012. "Competition in MENA countries banking markets," International Journal of Financial Services Management, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 5(3), pages 272-301.
    2. Coccorese, Paolo & Pellecchia, Alfonso, 2013. "Multimarket contact, competition and pricing in banking," Journal of International Money and Finance, Elsevier, Elsevier, vol. 37(C), pages 187-214.

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