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Competition in the European banking markets in the aftermath of the financial crisis

In: Handbook of Competition in Banking and Finance

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  • Juan Fernández de Guevara
  • Joaqu'n Maudos

Abstract

The recent financial crisis affected the banking sector in several European countries, forcing them to embark on a process of restructuring. The resulting increase in market concentration may have affected the level of competition. In this context, this chapter examines the impact of the crisis on competition in the banking sector in Europe’s largest economies over the period 2002–12. In the specific case of the lending market, the results show market power to have increased in many countries over the course of the crisis, although the results are sensitive to the indicator used. Although the mergers and acquisitions-oriented strategy followed in some countries to restructure the sector may have had a negative impact on competition, it has shored up financial stability, such that the net effect of greater concentration may be positive for social welfare.

Suggested Citation

  • Juan Fernández de Guevara & Joaqu'n Maudos, 2017. "Competition in the European banking markets in the aftermath of the financial crisis," Chapters, in: Jacob A. Bikker & Laura Spierdijk (ed.), Handbook of Competition in Banking and Finance, chapter 7, pages 118-138, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16878_7
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    Cited by:

    1. Iryna Okolelova & Jacob A. Bikker, 2022. "The single supervisory mechanism: Competitive implications for the banking sectors in the euro area," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(2), pages 1818-1835, April.
    2. Cruz-García, Paula & Fernández de Guevara, Juan & Maudos, Joaquín, 2021. "Bank competition and multimarket contact intensity," Journal of International Money and Finance, Elsevier, vol. 113(C).

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    Keywords

    Economics and Finance;

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