The Consolidation of the Financial Services Industry¶
Berger, A. N., Demsetz, R. S., & Strahan, P. E. (1999). The Consolidation of the Financial Services Industry: Causes, Consequences, and Implications for the Future. Journal of Banking & Finance, 23(2), 2-4.
Cited by¶
1 citation across 1 artifact.
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Primes¶
- Coarsening
- A worked instance shows the substance: a polycrystalline metal anneals as atoms diffuse from small grains to large, the mean grain size growing as a power of time and the count falling, with second-phase particles able to pin the boundaries and freeze the distribution; the same diagnostic applies to a fragmented regional-banking sector where regulatory pressure raises the per-firm boundary cost, the smallest banks fail, their assets flow to larger banks, antitrust acts as the pinning that slows the process, and the asymptotic state without intervention is a single firm — identical structure, different substrate.
This sourceDocuments drivers of bank consolidation — fixed regulatory/technology costs spread over a larger base, smaller banks absorbed — with antitrust review as the arresting constraint.
- A worked instance shows the substance: a polycrystalline metal anneals as atoms diffuse from small grains to large, the mean grain size growing as a power of time and the count falling, with second-phase particles able to pin the boundaries and freeze the distribution; the same diagnostic applies to a fragmented regional-banking sector where regulatory pressure raises the per-firm boundary cost, the smallest banks fail, their assets flow to larger banks, antitrust acts as the pinning that slows the process, and the asymptotic state without intervention is a single firm — identical structure, different substrate.
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