La situation concurrentielle des principaux secteurs bancaires européens entre 1993 et 2000 : quels enseignements pour la future structure des marchés financiers issue de l'UEM ?

摘要

The competition among European bank firms between 1993 and 2000 : what future for the European banking sector structure ? Aiming to estimate the impacts of EMU on the European banking sectors structure, this paper analyses the degree of competition among bank firms of the 4 major European continental banking sectors (Germany, France, Italy and Spain ones) between 1993 and 2000 using two main tools of the new industrial organization theory : the Panzar-Rosse (1987) and Lerner’s indexes. The first model allows to reject the monopolistic competition hypothesis for any of the represented sector for the whole 1993-2000 period. The second assessment, in spite of describing substantial differences between countries, does not globally show an increase of bank margins (or at least a stabilization for German, French and Italian banks) in the same period. On the whole, both kinds of indexes show how the high degree of competition persists within the European Union during the concerned period. JEL classification : F36, G21