Capital Market Regimes and Bank Structure in Europe

Ronald Shrieves, Drew Dahl and Michael F. Spivey

Journal of Money, Credit and Banking, 2010, vol. 42, issue 6, 1073-1092

Abstract: We hypothesize that fundamental features that distinguish European capital markets have predictably influenced emerging national differences in bank capitalization and loan growth. Using bank‐level data from 13 European countries, 1998 to 2004, we find evidence of positive effects of “equity‐friendly” market features on bank capitalization and positive effects of both “equity‐friendly” and “credit‐friendly” market features on loan growth. The findings are strongest in small banks and in banks with cooperative charters. Our results suggest that ongoing and prospective integration of European banking markets is mitigated by relatively static features of the equity and credit markets on which banks rely.

Date: 2010
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https://doi.org/10.1111/j.1538-4616.2010.00320.x

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Journal Article: Capital Market Regimes and Bank Structure in Europe (2010)
Working Paper: Capital Market Regimes and Bank Structure in Europe (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:42:y:2010:i:6:p:1073-1092

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