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dc.contributor.authorRughoo, Aarti
dc.contributor.authorSarantis, Nicholas
dc.date.accessioned2014-09-29T14:00:54Z
dc.date.available2014-09-29T14:00:54Z
dc.date.issued2014-03-31
dc.identifier.citationRughoo , A & Sarantis , N 2014 , ' The global financial crisis and integration in European retail banking ' , Journal of Banking and Finance , vol. 40 , pp. 28-41 . https://doi.org/10.1016/j.jbankfin.2013.11.017
dc.identifier.issn0378-4266
dc.identifier.otherPURE: 7602427
dc.identifier.otherPURE UUID: 1a953a4b-2c25-4612-9e56-8384eaa54e52
dc.identifier.otherScopus: 84890357324
dc.identifier.urihttp://hdl.handle.net/2299/14492
dc.descriptionThis document is the Accepted Manuscript version of the following article: Aarti Rughoo, and Nicolas Sarantis, 'The global financial crisis and integration in European retail banking', Journal of Banking and Finance, Vol. 40: 28-41, March 2014, and is made available under the terms of the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ The definitive, final Version of Record is available online via: https://doi.org/10.1016/j.jbankfin.2013.11.017
dc.description.abstractThe aim of this paper is twofold. Firstly, to investigate the integration process within the European Union retail banking sector by analysing deposit and lending rates to the household sector during the period 2003-2011. Secondly, to assess the impact of the 2008 global financial crisis on the banking integration process, an area that is yet unexplored. An important contribution of the paper is the application of the recently developed Phillips and Sul (2007a) panel convergence methodology which has not hitherto been employed in this area. This method analyses the degree as well as the speed of convergence, identifies the presence of club formation, and measures the behaviour of each country's transition path relative to the panel average. The empirical results point to the presence of convergence in all deposit and lending rates to the household sector up to 2007. In sharp contrast, the null of convergence is rejected in all deposit and credit markets after the onset of the 2008 financial crisis. These results show that the global crisis has had a detrimental effect on the banking integration process. We find some convergence in a few sub-clusters of countries but the rate of convergence is typically slow and several countries are identified as diverging altogether. In addition, we find that the credit market, in general, is far more heterogeneous than the savings market.en
dc.format.extent14
dc.language.isoeng
dc.relation.ispartofJournal of Banking and Finance
dc.rightsEmbargoed
dc.subjectEuropean retail banking
dc.subjectGlobal financial crisis
dc.subjectHousehold sector
dc.subjectIntegration
dc.subjectLending rates
dc.subjectPhillip and Sul convergence method
dc.subjectSavings
dc.subjectEconomics and Econometrics
dc.subjectFinance
dc.titleThe global financial crisis and integration in European retail bankingen
dc.contributor.institutionHertfordshire Business School
dc.contributor.institutionSocial Sciences, Arts & Humanities Research Institute
dc.contributor.institutionDepartment of Accounting, Finance and Economics
dc.description.statusPeer reviewed
dc.date.embargoedUntil2015-05-25
dc.relation.schoolHertfordshire Business School
dc.description.versiontypeFinal Accepted Version
dcterms.dateAccepted2014-03-31
rioxxterms.versionAM
rioxxterms.versionofrecordhttps://doi.org/10.1016/j.jbankfin.2013.11.017
rioxxterms.licenseref.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
rioxxterms.licenseref.startdate2015-05-25
rioxxterms.typeJournal Article/Review
herts.preservation.rarelyaccessedtrue
herts.date.embargo2015-05-25
herts.rights.accesstypeEmbargoed


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