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Tables of Contents for Efficiency in European Banking
Chapter/Section Title
Page #
Page Count
Preface
ix
1 Introduction
1
11
The forces of change in European banking
1
3
Cost and income pressures
4
3
The importance of productive efficiency
7
2
Market structure, cost economies and efficiency in European banking -- why are they important?
9
3
2 A single market for financial services in the EU
12
38
Introduction
12
1
Background to the single market for financial services
12
3
Barriers to integration in financial markets
15
4
The internal market programme for banking sevices
19
7
The single European market programme for securities and insurance services
26
5
Overview of EU financial services legislation
31
1
European Monetary Union (EMU) and its implications for the single financial services market
32
6
Economic aspects of a single market in financial services
38
8
The problems of creating the single market
46
3
Conclusion
49
1
3 Recent changes and structural developments in European banking systems
50
43
Introduction
50
1
An overview of the general macroeconomic environment in the EU
50
8
A short history of banking in Europe
58
1
Structural differences between European banking systems
59
2
Structural developments
61
8
Universal versus specialised banking in Europe
69
2
A note on technological levels in European banking systems
71
2
Operating efficiency in the European banking markets
73
4
Performance comparisons
77
5
Ownership and performance in European banking
82
1
Mergers, acquisitions and cooperation agreements in the 1990s
83
6
Privatisation and restructuring
89
3
Conclusions
92
1
4 The structure-performance relationship in US and European banking
93
44
Introduction
93
1
The rationale for testing the SCP relationship in banking
93
2
The emergence of the SCP debate in the US banking market
95
2
The SCP model applied to the banking industry
97
8
Concentration and performance -- the empirical evidence from the United States
105
4
Concentration and performance -- empirical evidence from individual European countries
119
2
Concentration and performance -- empirical evidence from international studies
121
12
Limitations of bank SCP modelling
133
3
Conclusions
136
1
5 Scale, scope and cost efficiency in banking markets: a theoretical perspective
137
36
Introduction
137
1
Definition of economies of scale and economies of scope
137
9
The importance of the shape of average costs in decision-making
146
1
Sources of economies of scale and scope
147
2
Bank cost function technology
149
2
Analysing scale and scope economies in banking markets
151
9
Functional forms for the multi-product cost function
160
8
Recent approaches to estimating efficiency in banking markets
168
4
Conclusions
172
1
6 Scale and scope economies in banking markets, empirical evidence from the United States and Europe
173
29
Introduction
173
1
The early cost studies in US banking
173
4
Post-1965 -- multi-product cost studies in US banking
177
16
Studies of scale and scope in European banking markets
193
4
Recent approaches to estimating efficiency in banking markets
197
3
Conclusions
200
2
7 A comparative analysis of scope and scale economies in European banking markets
202
17
Introduction
202
1
The methodology
202
3
The data and definition of variables
205
1
Empirical results
206
9
Product-specific economies of scale
215
2
Conclusions
217
2
8 European banking and the cost implications of mergers
219
33
Introduction
219
1
Brief overview of the recent merger movement in banking markets
219
2
Motives for merging
221
2
Previous studies
223
5
Methodology and mergers simulation
228
1
Results
229
19
Limitations of the hypothetical merger analysis
248
2
Conclusions
250
2
9 Efficiency in European banking
252
23
Introduction
252
1
Estimating banking efficiency
253
3
European research
256
16
Overview of the efficiency studies
272
1
Concluding remarks: Where do we go from here?
273
2
References
275
30
Appendix I Review of the US SCP literature
305
16
Appendix II
321
11
Index
332