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Competition and Stability in BankingThe Role of Regulation and Competition Policy$
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Xavier Vives

Print publication date: 2016

Print ISBN-13: 9780691171791

Published to Princeton Scholarship Online: January 2018

DOI: 10.23943/princeton/9780691171791.001.0001

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Trends in Banking

Trends in Banking

(p.7) Chapter 2 Trends in Banking
Competition and Stability in Banking

Xavier Vives

Princeton University Press

This chapter discusses basic trends in the banking sector that are being driven by technological and regulatory changes. It first considers the expansion of banking and financial intermediation, the relationship between the growth of the financial sector and economic growth, and the link between financial innovation and systemic risk. In particular, it examines the role of market-based banking, securitization, and shadow banks in the 2007–2009 crisis. It then describes the evolution of business models in banking, the entry of new competitors to banks, and the evolution of competition. It also looks at the evolution of market concentration out of the consolidation move that has followed the transformation of banking. It shows that increasing competition and the transformation in the banking sector has developed in parallel with a process of concentration.

Keywords:   banking sector, financial intermediation, financial sector, economic growth, financial innovation, systemic risk, financial crisis, competition, concentration, consolidation

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