The impact of technology and regulation on the geographical scope of banking

Oxford Review of Economic Policy

Volumn 20, Issue 4, 2004, Pages 571-590

  Degryse, Hans ^a   Ongena, Steven ^a  

^a TILBURG UNIVERSITY   (Netherlands)

Author keywords

[No Author keywords available]

Indexed keywords

BANKING; CREDIT PROVISION; LENDING BEHAVIOR; TECHNOLOGICAL DEVELOPMENT;

EASTERN HEMISPHERE; EURASIA; EUROPE; WORLD;

EID: 12344327609     PISSN: 0266903X     EISSN: None     Source Type: Journal    
DOI: 10.1093/oxrep/grh033     Document Type: Review

References (97)

1. Adam, K., Jappelli, T., Menichini, A., Padula, M., and Pagano, M. (2002), 'Analyse, Compare, and Apply Alternative Indicators and Monitoring Methodologies to Measure the Evolution of Capital Market Integration in the European Union', Salerno, Centre for Studies in Economics and Finance, mimeo.
2. Ausubel, L. M. (1991), 'The Failure of Competition in the Credit Card Market', American Economic Review, 81, 50-76.
3. Baele, L., Ferrando, A., Hordahl, P., Krylova, E., and Monnet, C. (2004), 'Measuring European Financial Integration', Oxford Review of Economic Policy, 20(4), 509-30.
4. Barth, J. R., Caprio, G., and Levine, R. (2001), The Regulations and Supervision of Banks Around the World: a New Database, Washington, DC, World Bank.
5. Beitel, P., Schiereck, D., and Wahrenburg, M. (2004), 'Explaining M&A Success in European Banks', European Financial Management, 10 109-40.
6. Berger, A. N. (2003), 'The Economic Effects of Technological Progress: Evidence from the Banking Industry', Journal of Money, Credit, and Banking, 35, 141-76.
7. Berger, A. N. DeYoung, R. (2001), 'The Effects of Geographic Expansion on Bank Efficiency', Journal of Financial Services Research, 19 163-84.
8. Berger, A. N. Udell, G. F. (1993), 'Securitization, Risk and the Liquidity Problem in Banking', in M. Klausner and L. J. White (eds), Structural Change in Banking, New York, New York University Salomon Center.
9. Berger, A. N. Demsetz, R., and Strahan, P. (1999), 'The Consolidation of the Financial Services Industry: Causes, Consequences, and Implications for the Future', Journal of Banking and Finance, 23, 135-94.
10. Berger, A. N. Dai, Q., Ongena, S., and Smith, D. C. (2003), 'To What Extent Will the Banking Industry be Globalized? A Study of Bank Nationality and Reach in 20 European Nations', Journal of Banking and Finance, 27, 383-415.
11. Berger, A. N. DeYoung, R., Genay, H., and Udell, G. (2000), 'Globalization of Financial Institutions: Evidence from Cross-border Banking Performance', Brookings-Wharton Papers on Financial Services 3, 23-120.
12. Berger, A. N. Saunders, A., Scalise, J. M., and Udell, G. F. (1998), 'The Effects of Bank Mergers and Acquisitions on Small Business Lending', Journal of Financial Economics, 50, 187-230.
13. Berger, A. N., Miller, N. M., Petersen, M. A., Rajan, R. G., and Stein, J. C. (2004), 'Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks', Journal of Financial Economics, forthcoming.
14. Bergström, R., Engwall, L., and Wallerstedt, E. (1994), 'Organizational Foundations and Closures in a Regulated Environment: Swedish Commercial Banks 1831-1990', Scandinavian Journal of Management, 10, 29-48.
15. Bester, H., and Petrakis, E. (1995), 'Price Competition and Advertising in Oligopoly', European Economic Review, 39, 1075-88.
16. Bhattacharya, S., and Chiesa, G. (1995), 'Proprietary Information, Financial Intermediation, and Research Incentives', Journal of Financial Intermediation, 4, 328-57.
17. Bianco, M., Jappelli, T., and Pagano, M. (2003), 'Courts and Banks: Effects of Judicial Enforcement on Credit Markets', Journal of Money, Credit, and Banking, forthcoming.
18. Binks, M. R., and Ennew, C. T. (1997), 'The Relationship Between U.K. Banks and Their Small Business Customers', Small Business Economics 9, 167-78.
19. Bonaccorsi di Patti, E., and Gobbi, G. (2002), 'Winners or Losers? The Effects of Banking Consolidation on Corporate Borrowers', Rome, Bank of Italy, mimeo.
20. Boot, A. W. A., and Thakor, A. V. (2000), 'Can Relationship Banking Survive Competition?', Journal of Finance, 55, 679-713.
21. Bouckaert, J., and Degryse, H. (1995), 'Phonebanking', European Economic Review, 39, 229-44.
22. Bouckaert, J., (2004), 'Softening Competition by Inducing Switching in Credit Markets', Journal of Industrial Economics, 52, 27-52.
23. Broecker, T. (1990), 'Credit-worthiness Tests and Interbank Competition', Econometrica, 58, 429-52.
24. Buch, C. M. (2002), 'Financial Market Integration in the US: Lessons for Europe', Comparative Economic Studies, 44, 46-71.
25. Buch, C. M. (2004a), 'Distance and International Banking', Review of International Economics, forthcoming.
26. Buch, C. M. (2004 b), 'Information or Regulation: What is Driving the International Activities of Commercial Banks?' Journal of Money, Credit, and Banking, forthcoming.
27. Buch, C. M. DeLong, G. L. (2001), 'Cross-border Bank Mergers: What Lures the Rare Animal?', Working Paper 1070, Kiel, Kiel Institute of World Economics.
28. Buch, C. M. Golder, S. M. (2001), 'Foreign versus Domestic Banks in Germany and the US: A Tale of Two Markets?', Journal of Multinational Financial Management, 11, 341-61.
29. Buch, C. M. Driscoll, J. C., and Ostergaard, C. (2003), 'International Diversification in Bank Asset Portfolios', Kiel, Kiel Institute of World Economics, mimeo.
30. Cabral, L. M. B. (2002), 'Comment on Clemons, Hitt, Gu, Thatcher, and Weber', Journal of Financial Services Research, 22, 91-3.
31. Campa, J. M., and Hernando, I. (2004), 'Shareholder Value Creation in European M&As', European Financial Management, 10, 47-81.
32. Carletti, E., and Hartmann, P. (2003), 'Competition and Stability: What's Special About Banking?', in P. Mizen (ed.), Monetary History, Exchange Rates and Financial Markets: Essays in Honour of Charles Goodhart, Cheltenham, Edward Elgar.
33. Carling, K., and Lundberg, S. (2002), Bank Lending, Geographical Distance, and Credit Risk: An Empirical Assessment of the Church Tower Principle, Borlange, Dalarna University.
34. Corvoisier, S., and Gropp, R. (2001), 'Contestability, Technology, and Banking', Frankfurt, European Central Bank, mimeo.
35. Crystal, J. S., Dages, B. G., and Goldberg, L. S. (2002), 'Has Foreign Bank Entry Led to Sounder Banks in Latin America?', Current Issues in Economics and Finance, 8, 1-6.
36. Danthine, J.-P., Giavazzi, F., and von Thadden, E.-L. (2001), 'European Financial Markets After EMU: A First Assessment', in C. Wyplosz (ed.), EMU: Its Impact on Europe and the World, Oxford, Oxford University Press.
37. Degryse, H., and Ongena, S. (2003a), 'Distance, Lending Relationships, and Competition', Discussion Paper CES 02-16(r) and CentER 03-123, Tilburg, Center for Economic Studies, K.U. Leuven and CentER, Tilburg University.
38. Degryse, H., and Ongena, S. (2003b), 'The Impact of Competition on Bank Orientation and Specialization', Discussion Paper CES 2004-3 and CentER 2003-108, Leuven and Tilburg, K.U. Leuven and Tilburg University.
39. Degryse, H., and Ongena, S. (2004), 'Distance, Lending Relationships, and Competition', Journal of Finance, forthcoming.
40. De Juan, R. (2003), 'The Independent Submarkets Model: An Application to the Spanish Retail Banking Market', International Journal of Industrial Organization, 21, 1461-87.
41. Dell' Ariccia, G. (2001), 'Asymmetric Information and the Market Structure of the Banking Industry', European Economic Review, 45, 1957-80.
42. DeLong, G. L. (2001), 'Stockholder Gains from Focusing versus Diversifying Mergers', Journal of Financial Economics, 59, 221-52.
43. Dermine, J. (2003), 'European Banking: Past, Present, and Future', in V. Gaspar, P. Hartmann, and O. Sleijpen (eds), The Transformation of the European Financial System, Frankfurt, ECB.
44. DeYoung, R., and Nolle, D. E. (1996), 'Foreign-owned Banks in the United States: Earning Market Share or Buying It?', Journal of Money, Credit, and Banking, 28, 622-36.
45. Elliehausen, G. E., and Wolken, J. D. (1990), 'Banking Markets and the Use of Financial Services by Small and Medium-sized Businesses', Staff Studies 160, Washington DC, Board of Governors of the Federal Reserve System.
46. Elsas, R. (2004), 'Empirical Determinants of Relationship Lending', Journal of Financial Intermediation, forthcoming.
47. Elsas, R. Krahnen, J. P. (1998), 'Is Relationship Lending Special? Evidence from Credit-file Data in Germany', Journal of Banking and Finance, 22, 1283-316.
48. Focarelli, D., and Pozzolo, A. F. (2001), 'The Patterns of Cross-border Bank Mergers and Shareholdings in OECD Countries', Journal of Banking and Finance, 25, 2305-37.
49. Freixas, X., and Rochet, J. C. (1997), Microeconomics of Banking, Cambridge, MA, MIT Press.
50. Gehrig, T. (1998), 'Screening, Cross-border Banking, and the Allocation of Credit', Research in Economics, 52, 387-407.
51. Gehrig, T. Stenbacka, R. (2001), 'Information Sharing in Banking: A Collusive Device', Discussion Paper 2915, London, CEPR.
52. Gogoi, P. (2003), 'The Hot News in Banking: Bricks and Mortar', Business Week, 51-2.
53. Goldberg, L. G., and Saunders, A. (1981), 'The Determinants of Foreign Banking Activity in the United States', Journal of Banking and Finance, 5, 17-32.
54. Greenbaum, S. I., and Emmons, W. R. (1998), 'Twin Information Revolutions and the Future of Financial Intermediation', in Y. Amihud, and G. Miller (eds), Bank Mergers and Acquisitions, New York, Kluwer.
55. Grinblatt, M., and Keloharju, M. (2001), 'How Distance, Language, and Culture Influence Stockholdings and Trades', Journal of Finance, 56, 1053-73.
56. Grossman, G., and Shapiro, C. (1984), 'Informative Advertising with Differentiated Products', Review of Economic Studies, 51, 63-82.
57. Guiso, L., Sapienza, P., and Zingales, L. (2004), 'Does Local Financial Development Matter?', Quarterly Journal of Economics, forthcoming.
58. Hartmann, P., Maddaloni, A., and Manganelli, S. (2003), 'The Euro-area Financial System: Structure, Integration, and Policy Initiatives', Oxford Review of Economic Policy, 19(1), 180-213.
59. Hauswald, R., and Marquez, R. (2003a), 'Competition and Strategic Information Acquisition in Credit Markets', College Park, University of Maryland, mimeo.
60. Hauswald, R., and Marquez, R. (2003b), 'Information Technology and Financial Services Competition', Review of Financial Studies, 16, 921-48.
61. Heitfield, E. A., and Prager, R. A. (2004), 'The Geographic Scope of Retail Deposit Markets', Journal of Financial Services Research, 25, 37-55.
62. Hotelling, H. (1929), 'Stability in Competition', The Economic Journal, 39, 41-5.
63. Jappelli, T., and Pagano, M. (2003), 'Public Credit Information: A European Perspective', in M. J. Miller (ed.), Credit Reporting Systems and the International Economy, Cambridge, MA, MIT Press.
64. Kim, M., Kliger, D., and Vale, B. (2003), 'Estimating Switching Costs: The Case of Banking', Journal of Financial Intermediation, 12 25-56.
65. Kindleberger, C. P. (1983), 'International Banks as Leaders or Followers of International Business', Journal of Banking and Finance, 7 583-95.
66. Klein, M. (1971), 'A Theory of the Banking Firm', Journal of Money, Credit, and Banking, 3, 205-18.
67. Klemperer, P. (1995), 'Competition when Consumers have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade', Review of Economic Studies 62, 515-39.
68. La Porta, R., Lopez-de-Silanes, F., Shleifer, A., and Vishny, R. W. (1998), 'Law and Finance', Journal of Political Economy, 106 1113-55.
69. Lederer, P., and Hurter, A. P. (1986), 'Competition of Firms: Discriminatory Pricing and Location', Econometrica, 54, 623-40.
70. Mannonen, P. (2001), 'Advancing Information Technology and Financial Intermediation', Discussion Paper 770, Helsinki, Research Institute of the Finnish Economy.
71. Mayer, C., Schoors, K., and Yafeh, Y. (2004), 'Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the United Kingdom', Journal of Corporate Finance 10, forthcoming.
72. Monti, M. (1972), 'Deposit, Credit, and Interest Rate Determination Under Alternative Bank Objectives', in G. P. Szego, and K. Shell (eds), Mathematical Methods in Investment and Finance, Amsterdam, North-Holland.
73. Morgan, D. (2002), 'How Big are Bank Markets: Evidence Using Branch Sale Premia', New York, Federal Reserve Bank of New York, mimeo.
74. Myatt, D. P., Shin, H. S., and Wallace, C. (2002), 'The Assessment: Games and Coordination', Oxford Review of Economic Policy, 18 397-417.
75. Padilla, A. J., and Pagano, M. (1997), 'Endogenous Communication among Lenders and Entrepreneurial Incentives', Review of Financial Studies 10, 205-36.
76. Petersen, M. A. (2002), 'Information: Hard and Soft', Chicago IL, Northwestern University, mimeo.
77. Petersen, M. A. Rajan, R. G. (1995), 'The Effect of Credit Market Competition on Lending Relationships', Quarterly Journal of Economics 110, 406-43.
78. Petersen, M. A. Rajan, R. G. (2002), 'Does Distance Still Matter? The Information Revolution in Small Business Lending', Journal of Finance 57, 2533-70.
79. Pinkse, J., Slade, M. E., and Brett, C. (2002), 'Spatial Price Competition: A Semiparametric Approach', Econometrica, 70, 1111-53.
80. Portes, R., and Rey, H. (2004), 'The Determinants of Cross Border Equity Flows', Journal of International Economics, forthcoming.
81. Rajan, R.G. (1992), 'Insiders and Outsiders: the Choice between Informed and Arm's-length Debt', Journal of Finance, 47, 1367-400.
82. Rosengren, E. (2003), 'Comment on J. Dermine "European Banking: Past, Present, and Future"', in V. Gaspar, P. Hartmann, and O. Sleijpen (eds), The Transformation of the European Financial System, Frankfurt, ECB.
83. Salop, S. (1979), 'Monopolistic Competition with Outside Goods', Bell Journal of Economics, 10, 141-56.
84. Sapienza, P. (2002), 'The Effects of Banking Mergers on Loan Contracts', Journal of Finance, 329-68.
85. Seth, R., Nolle, D. E., and Mohanty, S. K. (1998), 'Do Banks Follow their Customers Abroad?', Financial Markets, Institutions, and Instruments, 7, 1-25.
86. Shaffer, S. (1998), 'The Winner's Curse in Banking', Journal of Financial Intermediation, 7, 359-92.
87. Sharpe, S. A. (1990), 'Asymmetric Information, Bank Lending and Implicit Contracts: A Stylized Model of Customer Relationships', Journal of Finance, 45, 1069-87.
88. Stanley, T. O., Roger, C., and McManis, B. (1993), 'The Effects of Foreign Ownership of US Banks on the Availability of Loanable Funds to Small Businesses', Journal of Small Business Management, 31.
89. Stein, J. (2002), 'Information Production and Capital Allocation: Decentralized versus Hierarchical Firms', Journal of Finance, 57, 1891-922.
90. Sussman, O., and Zeira, J. (1995), 'Banking and Development', Discussion Paper 1127, London, CEPR.
91. Tirole, J. (1988), The Theory of Industrial Organization, Cambridge, MA, MIT Press.
92. Vercammen, J. A. (1995), 'Credit Bureau Policy and Sustainable Reputation Effects in Credit Markets', Economica, 62, 461-78.
93. Vesala, J. (2000), 'Technological Transformation and Retail Banking Competition: Implications and Measurement', Study E20, Helsinki, Bank of Finland.
94. von Thadden, E. L. (2004), 'Asymmetric Information, Bank Lending, and Implicit Contracts: the Winner's Curse', Finance Research Letters, 1, 11-23.
95. Wilhelm, W. J. (2001), 'The Internet and Financial Market Structure', Oxford Review of Economic Policy, 17(2), 235-47.
96. Wrighton, J. (2003), 'Why Unity in Europe Hasn't Yet Extended to the Banking System', in (ed.), Wall Street Journal Europe, Paris,
97. Yosha, O. (1995), 'Information Disclosure Costs and the Choice of Financing Source', Journal of Financial Intermediation, 4, 3-20.