IDEAS home Printed from https://ideas.repec.org/p/fes/fstudy/fstudy06.html
   My bibliography  Save this paper

Studies in Financial Systems No 6 Report on the Spanish Financial System

Author

Listed:
  • Amaya Altuzarra

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Jesús Ferreiro

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Catalina Gálvez

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Carmen Gómez

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Ana González

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Patricia Peinado

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Carlos Rodríguez

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

  • Felipe Serrano

    (Department of Applied Economics V, University of the Basque Country UPV/EHU)

Abstract

The objective of this report is to provide a general overview of the process of transformation and development of the financial system in Spain that has taken place since the decade of the seventies in the past century. The report shows the main distinctive features of the financialisation process of the Spanish economy, its main determinant elements, and its economic impact, paying special attention to the current economic and financial crisis.

Suggested Citation

  • Amaya Altuzarra & Jesús Ferreiro & Catalina Gálvez & Carmen Gómez & Ana González & Patricia Peinado & Carlos Rodríguez & Felipe Serrano, 2013. "Studies in Financial Systems No 6 Report on the Spanish Financial System," FESSUD studies fstudy06, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
  • Handle: RePEc:fes:fstudy:fstudy06
    as

    Download full text from publisher

    File URL: http://fessud.eu/wp-content/uploads/2012/08/the-spain-financial-system..pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Maudos, Joaquin & Pastor, Jose M. & Perez, Francisco & Quesada, Javier, 2002. "Cost and profit efficiency in European banks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(1), pages 33-58, February.
    2. Panzar, John C & Rosse, James N, 1987. "Testing for "Monopoly" Equilibrium," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 443-456, June.
    3. Mas Ivars Matilde & Pérez García Francisco & Uriel Jiménez Ezequiel, 2012. "El stock y los servicios de capital en España y su distribución territorial y sectorial (1964-2010)," Working Papers 2012109, Fundacion BBVA / BBVA Foundation.
    4. Tortosa-Ausina, Emili, 2003. "Nontraditional activities and bank efficiency revisited: a distributional analysis for Spanish financial institutions," Journal of Economics and Business, Elsevier, vol. 55(4), pages 371-395.
    5. Rogers, Kevin E., 1998. "Nontraditional activities and the efficiency of US commercial banks," Journal of Banking & Finance, Elsevier, vol. 22(4), pages 467-482, May.
    6. Berger, Allen N. & Mester, Loretta J., 1997. "Inside the black box: What explains differences in the efficiencies of financial institutions?," Journal of Banking & Finance, Elsevier, vol. 21(7), pages 895-947, July.
    7. Marisol Esteban & Amaia Altuzarra, 2008. "A model of the Spanish housing market," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 30(3), pages 353-373, April.
    8. Mohamed Chaffai & Michel Dietsch & Ana Lozano-Vivas, 2001. "Technological and Environmental Differences in the European Banking Industries," Journal of Financial Services Research, Springer;Western Finance Association, vol. 19(2), pages 147-162, April.
    9. Jose Pastor & Lorenzo Serrano, 2006. "The Effect of Specialisation on Banks' Efficiency: An International Comparison," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(1), pages 125-149.
    10. Bikker, Jacob A. & Haaf, Katharina, 2002. "Competition, concentration and their relationship: An empirical analysis of the banking industry," Journal of Banking & Finance, Elsevier, vol. 26(11), pages 2191-2214, November.
    11. Joaquin Maudos & Jose Pastor & Francisco Perez, 2002. "Competition and efficiency in the Spanish banking sector: the importance of specialization," Applied Financial Economics, Taylor & Francis Journals, vol. 12(7), pages 505-516.
    12. Vivas, Ana Lozano, 1997. "Profit efficiency for Spanish savings banks," European Journal of Operational Research, Elsevier, vol. 98(2), pages 381-394, April.
    13. Molyneux, Phil & Lloyd-Williams, D. M. & Thornton, John, 1994. "Competitive conditions in european banking," Journal of Banking & Finance, Elsevier, vol. 18(3), pages 445-459, May.
    14. Tortosa-Ausina, Emili & Grifell-Tatje, Emili & Armero, Carmen & Conesa, David, 2008. "Sensitivity analysis of efficiency and Malmquist productivity indices: An application to Spanish savings banks," European Journal of Operational Research, Elsevier, vol. 184(3), pages 1062-1084, February.
    15. Dietsch, Michel & Lozano-Vivas, Ana, 2000. "How the environment determines banking efficiency: A comparison between French and Spanish industries," Journal of Banking & Finance, Elsevier, vol. 24(6), pages 985-1004, June.
    16. Ana Lozano-Vivas & Jesús Pastor & José Pastor, 2002. "An Efficiency Comparison of European Banking Systems Operating under Different Environmental Conditions," Journal of Productivity Analysis, Springer, vol. 18(1), pages 59-77, July.
    17. J. Maudos & J. M. Pastor, 2003. "Cost and profit efficiency in the Spanish banking sector (1985-1996): a non-parametric approach," Applied Financial Economics, Taylor & Francis Journals, vol. 13(1), pages 1-12.
    18. Carbo Valverde, Santiago & Humphrey, David B. & Lopez del Paso, Rafael, 2007. "Do cross-country differences in bank efficiency support a policy of "national champions"?," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 2173-2188, July.
    19. Jesus Ferreiro & Felipe Serrano, 2001. "The Spanish Labour Market: Reforms and consequences," International Review of Applied Economics, Taylor & Francis Journals, vol. 15(1), pages 31-53.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lozano-Vivas, Ana & Pasiouras, Fotios, 2010. "The impact of non-traditional activities on the estimation of bank efficiency: International evidence," Journal of Banking & Finance, Elsevier, vol. 34(7), pages 1436-1449, July.
    2. Béjaoui Rouissi, Raoudha, 2011. "Cost and profit efficiency of french commercial banks," MPRA Paper 34245, University Library of Munich, Germany.
    3. Mai, Nhat Chi, 2015. "Efficiency of the banking system in Vietnam under financial liberalization," OSF Preprints qsf6d, Center for Open Science.
    4. Andrieş, Alin Marius & Căpraru, Bogdan, 2014. "The nexus between competition and efficiency: The European banking industries experience," International Business Review, Elsevier, vol. 23(3), pages 566-579.
    5. Goddard, John & Molyneux, Philip & Wilson, John O.S. & Tavakoli, Manouche, 2007. "European banking: An overview," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 1911-1935, July.
    6. Adnan Kasman & Saadet Kirbas Kasman & Oscar Carvallo, 2005. "Efficiency and Foreign Ownership in Banking: An International Comparison," Discussion Paper Series 05/03, Dokuz Eylül University, Faculty of Business, Department of Economics, revised 23 Nov 2005.
    7. Jose Pastor & Lorenzo Serrano, 2006. "The Effect of Specialisation on Banks' Efficiency: An International Comparison," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(1), pages 125-149.
    8. Vaneet Bhatia & Sankarshan Basu & Subrata Kumar Mitra & Pradyumna Dash, 2018. "A review of bank efficiency and productivity," OPSEARCH, Springer;Operational Research Society of India, vol. 55(3), pages 557-600, November.
    9. Fethi, Meryem Duygun & Pasiouras, Fotios, 2010. "Assessing bank efficiency and performance with operational research and artificial intelligence techniques: A survey," European Journal of Operational Research, Elsevier, vol. 204(2), pages 189-198, July.
    10. Adnan Kasman & Canan Yildirim, 2006. "Cost and profit efficiencies in transition banking: the case of new EU members," Applied Economics, Taylor & Francis Journals, vol. 38(9), pages 1079-1090.
    11. Maudos, Joaquin & de Guevara, Juan Fernandez, 2007. "The cost of market power in banking: Social welfare loss vs. cost inefficiency," Journal of Banking & Finance, Elsevier, vol. 31(7), pages 2103-2125, July.
    12. Duygun, Meryem & Sena, Vania & Shaban, Mohamed, 2013. "Schumpeterian competition and efficiency among commercial banks," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 5176-5185.
    13. Fotios Pasiouras & Aggeliki Liadaki & Constantin Zopounidis, 2008. "Bank efficiency and share performance: evidence from Greece," Applied Financial Economics, Taylor & Francis Journals, vol. 18(14), pages 1121-1130.
    14. Nemanja Radić & Franco Fiordelisi & Claudia Girardone, 2012. "Efficiency and Risk-Taking in Pre-Crisis Investment Banks," Journal of Financial Services Research, Springer;Western Finance Association, vol. 41(1), pages 81-101, April.
    15. Tortosa-Ausina, Emili & Grifell-Tatje, Emili & Armero, Carmen & Conesa, David, 2008. "Sensitivity analysis of efficiency and Malmquist productivity indices: An application to Spanish savings banks," European Journal of Operational Research, Elsevier, vol. 184(3), pages 1062-1084, February.
    16. Liadaki, Aggeliki & Gaganis, Chrysovalantis, 2010. "Efficiency and stock performance of EU banks: Is there a relationship?," Omega, Elsevier, vol. 38(5), pages 254-259, October.
    17. Doan, Anh-Tuan & Lin, Kun-Li & Doong, Shuh-Chyi, 2018. "What drives bank efficiency? The interaction of bank income diversification and ownership," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 203-219.
    18. Drake, Leigh & Hall, Maximilian J.B. & Simper, Richard, 2006. "The impact of macroeconomic and regulatory factors on bank efficiency: A non-parametric analysis of Hong Kong's banking system," Journal of Banking & Finance, Elsevier, vol. 30(5), pages 1443-1466, May.
    19. Chen, Xiang & Lu, Ching-Cheng, 2021. "The impact of the macroeconomic factors in the bank efficiency: Evidence from the Chinese city banks," The North American Journal of Economics and Finance, Elsevier, vol. 55(C).
    20. Williams, Jonathan, 2004. "Determining management behaviour in European banking," Journal of Banking & Finance, Elsevier, vol. 28(10), pages 2427-2460, October.

    More about this item

    Keywords

    Spain; financial system; credit institutions; financial institutions; banking system; financial liberalization; regulation; supervision;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fes:fstudy:fstudy06. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Helen Evans (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.