The consolidation of the financial services industry
Subtitle: causes, consequences, and implications for the future
By: Allen N. Berger, Rebecca S. Demsetz, and Philip E. Strahan.
Contributors: Demsetz, Rebecca S.; Strahan, Philip E. 1963-; Federal Reserve Bank of New York.
Series: Staff reports ;; no. 55; Staff reports (Federal Reserve Bank of New York : Online) ;; no. 55.
Publisher: Federal Reserve Bank of New York
Published: 1998
Place of publication: [New York, N.Y.]
Language: eng
Format: Electronic resource
Subjects: Financial services industry -- Mergers.
Description: "This article designs a framework for evaluating the causes, consequences, and future implications of financial services industry consolidation, reviews the extant research literature within the context of this framework (over 250 references), and suggests fruitful avenues for future research.  The evidence is consistent with increases in market power from some types of consolidation; improvements in profit efficiency and diversification of risks, but little or no cost efficiency improvements on average; relatively little effect on the availability of services to small customers; potential improvements in payments system efficiency; and potential costs on the financial system from increasing systemic risk or expanding the financial safety net"--Federal Reserve Bank of New York web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 2/3/2005.
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Mode of access: World Wide Web.