Convergence in the activities of European banks
Cross-country integration of banking in Europe typically has been analyzed from the perspective of particular markets for financial products. We extend this research to consider the potential effects of market integration on the portfolio choices and financial structure of banks in seven European countries, 1994-2002. Our evidence rejects a hypothesis that banks in different countries have common activities. Distinct portfolio choices are more evident among small banks, as opposed to big banks, are more evident in Italy and are less evident in the UK and Spain. We conclude that integration of financial markets in Europe, to the extent that it has occurred, has not imposed a uniform mix of activities on European banks.
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Volume (Year): 18 (2008)
Issue (Month): 2 (April)
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- Lieven Baele & Annalisa Ferrando & Peter Hördahl & Elizaveta Krylova & Cyril Monnet, 2004. "Measuring financial integration in the euro area," Occasional Paper Series 14, European Central Bank.
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