
Contents
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1.1 Introduction 1.1 Introduction
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1.2. The Recent Financial Crisis and its Aftermath 1.2. The Recent Financial Crisis and its Aftermath
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1.3. Emerging Research Themes and Unanswered Research Questions 1.3. Emerging Research Themes and Unanswered Research Questions
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1.3.1 Financial Development and Growth and the Role of the State 1.3.1 Financial Development and Growth and the Role of the State
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1.3.2 Financial Innovation and Securitization 1.3.2 Financial Innovation and Securitization
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1.3.3 Why Do We Have Big Banks? Economies of Scale versus Too-Big-to-Fail 1.3.3 Why Do We Have Big Banks? Economies of Scale versus Too-Big-to-Fail
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1.3.4 Diversification 1.3.4 Diversification
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1.3.5 Competition and Risk 1.3.5 Competition and Risk
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1.3.6 Liquidity Risk and Creation 1.3.6 Liquidity Risk and Creation
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1.4. Book Structure and Chapter Summaries 1.4. Book Structure and Chapter Summaries
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1.4.1. The Theory of Banking 1.4.1. The Theory of Banking
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1.4.2. Bank Performance and Operations 1.4.2. Bank Performance and Operations
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1.4.3. Regulatory and Policy Perspectives 1.4.3. Regulatory and Policy Perspectives
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1.4.4. Macroeconomic Perspectives 1.4.4. Macroeconomic Perspectives
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1.4.5. Banking Systems around the World 1.4.5. Banking Systems around the World
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References References
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1 Banking in a Post-Crisis World
Get accessAllen N. Berger is the H. Montague Osteen, Jr., Professor in Banking and Finance and Ph.D coordinator of the Finance Department, Darla Moore School of Business; Carolina Distinguished Professor, University of South Carolina; Senior Fellow, Wharton Financial Institutions Center; and Fellow, European Banking Center. He also currently serves on the editorial boards of seven professional finance and economics journals. He is co-author of Bank Liquidity Creation and Financial Crises (2016, Elsevier) and is currently co-authoring TARP and other Bank Bailouts and Bail-Ins around the World: Connecting Wall Street, Main Street, and the Financial System (2019, Elsevier). He has published well over 100 professional articles including papers in top finance journals. His research has been cited over 70,000 times according to Google Scholar, and he has given invited keynote addresses on five continents. He was Senior Economist from 1989 to 2008 and Economist from 1982–9 at the Board of Governors of the Federal Reserve System. He received a Ph.D in Economics from the University of California, Berkeley in 1983, and a B.A. in Economics from Northwestern University in 1976.
Philip Molyneux is Dean of the College of Business Administration at the University of Sharjah (in the UAE). His main area of research is on the structure and efficiency of banking markets and he has published widely in this area. Recent publications appear in the Journal of Money, Credit and Banking, Journal of Financial Intermediation, Journal of Banking & Finance and the Review of Finance. He has co-written/edited over thirty-five books and is also the series editor of the Palgrave Macmillan Studies in Banking and Financial Institutions—with over 135 books in the series to date. In the past, Philip has acted as a consultant to the New York Federal Reserve Bank, World Bank, European Commission, UK Treasury, Citibank Private Bank, Barclays Wealth, McKinsey, Credit Suisse and various other international banks and consulting firms.
John O. S. Wilson is Professor of Banking and Finance and Director of the Centre for Responsible Banking & Finance based at the University of St Andrews. He is also a Member of the Scientific Advisory Board of Chartered Association of Business Schools Academic Journal Guide. Previously, he was Treasurer and General Secretary of the British Accounting and Finance Association during the period 2009–11, and the founding Chair of the British Accounting and Finance Association Financial Markets and Institutions Special Interest Group over the period 2007–18. He has guest edited special issues for Journal of Corporate Finance, Journal of Banking & Finance, Journal of Economic Behaviour & Organization, European Journal of Finance, Public Money & Management, British Accounting Review and Managerial Finance. In the period June 2011 to April 2012, John served as a full member of a Commission on Credit Unions established by the Irish Government. The Commission delivered interim and final reports to the Minister for Finance in September 2011 and April 2012 respectively. In 2018, John delivered evidence on the impact of Brexit on UK small and medium-sized enterprises to the House of Lords EU Internal Markets Committee.
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Published:07 April 2015
Cite
Abstract
This chapter provides a brief review of the recent financial crisis, the policy and banking industry responses to it around the world, and the resultant renaissance in banking research. This research suggests a need to better understand: financial development and the role of the state; financial innovation and the links to risk-taking; the optimal scale and scope of banks; and liquidity risk and creation. The chapter also provides a brief summary of the 39 additional chapters which make up the second edition of The Oxford Handbook of Banking.
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