G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w14735
来源IDWorking Paper 14735
A New Metric for Banking Integration in Europe
Reint Gropp; Anil Kashyap
发表日期2009-02-19
出版年2009
语种英语
摘要Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border retail bank flows, cross-border bank mergers and the law of one price reveal no evidence of integration in retail banking. This paper shows that the previous tests of bank integration are weak in that they are not based on an equilibrium concept and are neither necessary nor sufficient statistics for bank integration. The paper proposes a new test of integration based on convergence in banks' profitability. The new test emphasises the role of an active market for corporate control and of competition in banking integration. European listed banks profitability appears to converge to a common level. There is weak evidence that competition eliminates high profits for these banks, and underperforming banks tend to show improved profitability. Unlisted European banks differ markedly. Their profits show no tendency to revert to a common target rate of profitability. Overall, the banking market in Europe appears far from being integrated. In contrast, in the U.S. both listed and unlisted commercial banks profits converge to the same target, and high profit banks see their profits driven down quickly.
主题Financial Economics ; Financial Markets ; Financial Institutions ; Industrial Organization ; Market Structure and Firm Performance
URLhttps://www.nber.org/papers/w14735
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/572411
推荐引用方式
GB/T 7714
Reint Gropp,Anil Kashyap. A New Metric for Banking Integration in Europe. 2009.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w14735.pdf(408KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Reint Gropp]的文章
[Anil Kashyap]的文章
百度学术
百度学术中相似的文章
[Reint Gropp]的文章
[Anil Kashyap]的文章
必应学术
必应学术中相似的文章
[Reint Gropp]的文章
[Anil Kashyap]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w14735.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。