European banking landscape between diversity, competition and concentration.

Causes and consequences of institutional diversity are a largely neglected issue in economics. Only in finance, institutional variety has been at times acknowledged, though not in its institution-free neoclassical version. Still, extant research has primarily focused on the juxtaposition of bank- vs. market-based financial systems. Given the strong interconnectedness between banks and markets, this is for sure a too binary perspective. Differential responses to the Great Financial Crisis have highlighted the pertinence of institutional diversity for the performance as well as resilience of (national) financial systems. Nonetheless, financial diversity is still poorly researched and underestimated. In order to motivate more research on the role of banking sector and financial intermediary diversity for the performance of economies and societies, we review recent research in this area and present empirical findings.

Inhalt
Hans-Helmut Kotz and Dorothea Schäfer European banking landscape between diversity, competition and concentration Reinhard H. Schmidt Diversity in finance: An overview Giovanni Ferri and Doris Neuberger How does banking diversity fit in the general vision inspiring the joint process of Banking Union and Capital Markets Union? Horst Gischer and Christian Ilchmann Banking sector diversity and socioeconomic structurecriteria for matching pairs Andreas Bley Limited diversitybusiness models of German cooperative banks Franz Flögel and Stefan Gärtner Lost diversity: Business lending in the centralised banking system of the UK Karl-Peter Schackmann-Fallis und Mirko Weiß Post-financial crisis times: Only a short phase of re-intermediation and re-direction to boring banking business models? Regulatory burden, fintech competition and concentration processes Mechthild Schrooten Finance and growthreconsidered Axel Bertuch-Samuels Why we should embrace institutional diversity in banking Lorenzo Bini Smaghi What future for the European banking system? Hans-Helmut Kotz und Dorothea Schäfer Diversity across EU banking sectors: Poorly researched and underappreciated