IESE Research Papers
No D/504:
Integration of EU banking markets, The
Jordi Gual ()
Abstract: The goal of this paper is to provide an assessment of the
EU policies that pursue the creation of a single banking market. The paper
evaluates the degree of integration of EU banking markets, the impact of
the integration process on the conduct, the structure and the performance
of the industry at the EU level, and discusses whether current policies are
the most appropriate instruments for market integration. After comparing
the key features of EU policy with alternative methods of market opening,
the analysis stresses that market opening in regulated markets such as
banking faces a difficult trade-off between respect for domestic
preferences and the elimination of regulations that protect local
competitors and are not justified on efficiency grounds. The paper also
provides an overview of recent research which has looked at different
indicators of market integration in EU banking. Finally, it analyzes the
impact of integration policies on the conduct, the structure and the
performance of the banking industry. The conclusion provides an integrative
assessment, summarizing the key results of the paper and evaluating the
extent to which the changes in the degree of integration and the
performance of the industry imply that the EU single market policies have
achieved their objectives.
Keywords: integration policies; banking industry; European Union; market integration; regulated markets; market structure; single market; (follow links to similar papers)
29 pages, April 8, 2003
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