Description

This paper investigates the degree of bank competition in the euro area, the U.S. and U.K. before and after the recent financial crisis, and revisits the issue whether the introduction of EMU and the euro have had any impact on bank competition. The results suggest that the level of bank competition converged across euro area countries in the wake of the EMU. The recent global financial crisis led to a fall in competition in several countries and especially where large credit and housing booms had preceded the crisis..

Taxonomy

Competition , Economic cooperation , Euro area , European Economic and Monetary Union , Financial crisis , International financial system , International trade , Monetary unions

More publications in this series: Working Papers

More publications by: Yu Sun