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The Economics of Banking, 3rd Edition

The Economics of Banking, 3rd Edition

  • Author:
  • Publisher: John Wiley & Sons
  • ISBN: 9781118639207
  • Published In: September 2014
  • Format: Paperback , 352 pages
  • Jurisdiction: International ? Disclaimer:
    Countri(es) stated herein are used as reference only

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  • Description 
  • Contents 
  • Author 
  • Details

    Economics of Banking is aimed at final year undergraduate, postgraduate and MBA students taking courses in banking. The text focuses on banking trends and operations in a microeconomic context, incorporating theoretical material with practical aspects of banking.

  • Preface xi

    CHAPTER 1 Trends in Domestic and International Banking 1

    1.1 Introduction 1

    1.2 Deregulation 3

    1.3 Financial Innovation 4

    1.4 Globalization 6

    1.5 Profitability 8

    1.6 The Future 16

    1.7 Conclusion 19

    1.8 Summary 19

    Questions 20

    Test Questions 21

    CHAPTER 2 Financial Intermediation: The Impact of the Capital Market 23

    2.1 Introduction 23

    2.2 The Role of the Capital Market 24

    2.3 Determination of the Market Rate of Interest 30

    2.4 Summary 34

    Questions 35

    Test Questions 35

    CHAPTER 3 Banks and Financial Intermediation 37

    3.1 Introduction 37

    3.2 Different Requirements of Borrowers and Lenders 38

    3.3 Transaction Costs 40

    3.4 Liquidity Insurance 43

    3.5 Asymmetry of Information 46

    3.6 Operation of the Payments Mechanism 51

    3.7 Direct Borrowing from the Capital Market 51

    3.8 Conclusion 52

    3.9 Summary 53

    Questions 53

    Test Questions 53

    CHAPTER 4 Banking Typology 55

    4.1 Introduction 55

    4.2 General Features of Banking 56

    4.3 Retail Banking 59

    4.4 Wholesale Banking 61

    4.5 Universal Banking 63

    4.6 Islamic Banking 64

    4.7 Microfinance 66

    4.8 Shadow Banking 68

    4.9 Summary 70

    Questions 70

    Test Questions 70

    CHAPTER 5 International Banking 71

    5.1 Introduction 71

    5.2 The Nature of International Banking 72

    5.3 Growth of International Banking 75

    5.4 The Eurocurrency Markets 77

    5.5 Summary 84

    Questions 84

    Test Questions 85

    CHAPTER 6 The Theory of the Banking Firm 87

    6.1 Introduction 87

    6.2 The Textbook Model 88

    6.3 The Perfectly Competitive Bank 90

    6.4 The Monopoly Bank 92

    6.5 The Imperfect Competition Model 97

    6.6 Summary 100

    Questions 100

    Test Questions 101

    CHAPTER 7 Models of Banking Behaviour 103

    7.1 Introduction 103

    7.2 The Economics of Asset and Liability Management 104

    7.3 Liquidity Management 104

    7.4 Loan Pricing 109

    7.5 Asset Management 112

    7.6 The Real Resource Model of Asset and Liability Management 118

    7.7 Liability Management and Interest Rate Determination 120

    7.8 Summary 123

    Questions 124

    Test Questions 124

    CHAPTER 8 Credit Rationing 125

    8.1 Introduction 125

    8.2 The Availability Doctrine 126

    8.3 Theories of Credit Rationing 127

    8.4 Asymmetric Information and Adverse Selection 129

    8.5 Adverse Incentive 130

    8.6 Screening versus Rationing 133

    8.7 Empirical Evidence 135

    8.8 The Existence of Credit Rationing 136

    8.9 Summary 139

    Questions 140

    Test Questions 140

    CHAPTER 9 Securitization 141

    9.1 Introduction 141

    9.2 Sales of Securities through Financial Markets 144

    9.3 Asset-Backed Securitization (ABS) 146

    9.4 The Process of Asset-Backed Securitization 147

    9.5 The Gains from Asset-Backed Securitization 148

    9.6 Conclusions 155

    9.7 Summary 155

    Questions 155

    Test Questions 156

    CHAPTER 10 Banking Efficiency and the Structure of Banking 157

    10.1 Introduction 157

    10.2 Measurement of Output 157

    10.3 Performance Measures 159

    10.4 Reasons for the Growth of Mergers and Acquisitions 169

    10.5 Motives for Mergers 172

    10.6 Empirical Evidence 173

    10.7 Summary 179

    Questions 180

    Test Questions 180

    CHAPTER 11 Banking Competition 181

    11.1 Introduction 181

    11.2 Concentration in Banking Markets 182

    11.3 Structure–Conduct–Performance 184

    11.4 Competition Analysis 186

    11.5 Competition in the UK Banking Market 192

    11.6 Summary 198

    Questions 198

    Test Questions 199

    CHAPTER 12 Bank Regulation 201

    12.1 Introduction 201

    12.2 The Case for Regulation 202

    12.3 The Case against Regulation 209

    12.4 Regulation 215

    12.5 Summary 228

    Questions 228

    Test Questions 228

    CHAPTER 13 Banks and Money Laundering 229

    13.1 Introduction 229

    13.2 Scale, Scope and Typology 230

    13.3 Microeconomics of Money Laundering 235

    13.4 Macroeconomics of Money Laundering 241

    13.5 Combating Money Laundering 242

    13.6 Summary 244

    Questions 245

    Test Questions 245

    CHAPTER 14 Risk Management 247

    14.1 Introduction 247

    14.2 Risk Typology 248

    14.3 Interest Rate Risk Management 250

    14.4 Market Risk 260

    14.5 Credit Risk 270

    14.6 Operational Risk 279

    14.7 Risk Management and the Global Banking Crisis 279

    14.8 Conclusion 283

    14.9 Summary 284

    Questions 284

    Test Questions 285

    CHAPTER 15 The Macroeconomics of Banking 287

    15.1 Introduction 287

    15.2 The Economics of Central Banking 288

    15.3 Financial Innovation and Monetary Policy 297

    15.4 Bank Credit and the Transmission Mechanism 302

    15.5 Summary 309

    Questions 309

    Test Questions 310

    References 311

    Index 323

  • Kent Matthews is Associate Dean for Engagement & International Relations and the Sir Julian Hodge Professor of Banking and Finance at Cardiff Business School. He has held previous posts at the National Institute of Economic and Social Research, and the Bank of England, and has been a research visitor to the Hong Kong Monetary Authority.

    John Thompson is Emeritus Professor of Finance at Liverpool John Moores University.

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