Journal
REVIEW OF INTERNATIONAL POLITICAL ECONOMY
Volume 25, Issue 1, Pages 1-27Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/09692290.2017.1414070
Keywords
Financial crisis; financial markets; banking reform; institutionalism; regulation; banking performance
Categories
Funding
- Australian Research Council [DP10076854]
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Are the largest global banks now safer in the wake of the Global Financial Crisis? Focusing on a before' (2005) and after' (2015) balance sheet analysis of 21 of the largest American, British and European banks, we assess post-crisis banking performance. Much of the literature focuses on post-crisis regulation, but we argue instead that the main driver of change since the crisis has been structural conditions in banking and financial markets, particularly high levels of competition, bleak profit and share price conditions, and the largely unsolved too big to fail problem. Older as well as new forms of systemic risk thus prevail and many of the global banks still face major vulnerabilities.
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