Hardback

The New Banking Economics

9781847202734 Edward Elgar Publishing

Edited by Olivier Pastré, Professor of Economics, University of Paris VIII, France, Esther Jeffers, Associate Professor of Economics, University of Paris VIII, France, Hans Blommestein,Vivid Economics, UK and Gaël de Pontbriand, formerly Pricewaterhouse Coopers

Publication Date: 2007 ISBN: 978 1 84720 273 4 Extent: 208 pp

Combining incisive theoretical analysis with shrewd contributions by leading authors, from both the academic and professional world of banking, who are well placed to offer real insight into the current realities of the sector, this book addresses a diverse range of issues. These include measurement of bank performance, competition and consolidation, compliance, supervision, risk transfer, diversification and financial integration in Europe. The New Banking Economics provides a genuine and dynamic alternative to current banking theory that is embedded in a political and real-world context.

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Critical Acclaim

Contributors

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Banks have undergone radical change in the face of evolving pressures from markets, globalisation and regulatory authorities. In recognition of this change, this book seeks to forge a new theory, or theories, for economic banking in the 21st century. It provides a platform for new thinking and stimulating ideas, which, it is hoped, will help shape the future of research on the banking sector.

Combining incisive theoretical analysis with shrewd contributions by leading authors, from both the academic and professional world of banking, who are well placed to offer real insight into the current realities of the sector, this book addresses a diverse range of issues. These include measurement of bank performance, competition and consolidation, compliance, supervision, risk transfer, diversification and financial integration in Europe. The New Banking Economics provides a genuine and dynamic alternative to current banking theory that is embedded in a political and real-world context.

Offering diverse perspectives, this book will be of great interest to students of finance, economics and business, as well as to economists, analysts and researchers in the field of banking.

Critical Acclaim

‘This is a very timely book, addressing the rapid changes that have taken place in banking in the core European economies over the last two decades. No other book brings such a wealth of expertise on the controversies generated by European economic and financial integration and the emerging system of bank regulation in Europe. This book is indispensable for academics, bankers and policymakers trying to make sense of those controversies and make progress in our rapidly changing banking world.’
– Jan Toporowski, University of London, University of Cambridge, UK and University of Amsterdam, The Netherlands

‘This book maps out the main conceptual directions and paves the way for future work on the subject. These analyses, while being thorough, are easily accessible, including to the general public.’
– Christian Noyer, Govenor of the Banque de France

Contributors

Contributors: P. Artus, J.-B. Bellon, J.-P. Betbèze, P. Blanqué, H. Blommestein, R. Contamin, C. de Boissieu, G. de Pontbriand, D. Garabiol, A. Hackethal, E. Jeffers, H.-H. Kotz, V. McCarroll, P. Nasse, V. Oheix, O. Pastré, D. Plihon, J.-P. Pollin, J.-F. Pons, N. Rey, R.H. Schmidt, H. Sitruk, Y. Ullmo, R. Wagenvoort

Contents

Contents:

Foreword
Christian Noyer

Preface

PART I: THE BANK NO LONGER EXISTS
1. Thoughts on Banking Activities
Jean-Baptiste Bellon and Olivier Pastré

2. Banks – to Do What?
Yves Ullmo

3. Differences in National Financial Patters
Andreas Hackethal and Reinhard H. Schmidt

4. Fair Value Accounting and Market Inefficiency
Dominique Garabiol

5. The Potential Use and Abuse of Basel II
Véronique McCarroll

PART II: AN OCEAN OF RISK
6. Financial Intermediation and Transfers of Default Risks: Macro- and Microeconomic Efficiency
Patrick Artus

7. When Banks Transfer Risks to Investors
Dominique Plihon

8. Long Live Risk!
Gaël de Pontbriand

9. Banks: to be Sliced into Oblivion?
Hans-Helmut Kotz

PART III: NEW TECHNOLOGIES AND NEW ACTIVITIES
10. Technology in the French Banking Sector and Financial Industry: Trends and Challenges
Hervé Sitruk

11. The Growing Complexity of the Links between Banks and Capital Markets
Hans J. Blommestein

12. What About Financing for SMEs?
Jean-Paul Betbèze

13. European Financial Sector Transformation: Curse or Blessing for SME Finance?
Rien Wagenvoort

PART IV: MYSTERIOUS WAYS OF COMPETITION
14. Banking Consolidation in Europe
Christian de Boissieu

15. Finance and Competition: Still a Long Way to Go
Philippe Nasse

16. Concentration and Competition: The European Case
Esther Jeffers

17. Will International Bank Consolidation Really Occur?
Valérie Oheix

18. The Single Market for Financial Services in Europe: Progress and Limitations
Jean-François Pons

PART V: PERFORMANCES TO BE REDISCOVERED
19. The European Cooperative and Mutualist Banking Sector: Shared Values and Business Model Diversity
Pascal Blanqué and Rémy Contamin

20. The Need to Reconstruct Performance Indicators
Nathalie Rey

21. Particularities of Banking Governance
Jean-Paul Pollin

Index