The
Industrial Organization of Banking and Financial Markets in Europe
Training and Mobility of
Researchers Network
Summary
This network aims to extend the frontier of research in the closely related fields of banking, corporate finance, industrial organization and market microstructure. The network’s research is organized around three themes of vital importance to the European economy during the present period of rapid financial and monetary integration. The first theme studies ‘excessive competition’ and systemic risk in the banking sector. The second examines the industrial organization of securities markets and the theoretical relationship between ownership structure in the corporate sector and the provision of liquidity in equity and bond markets. The third theme focuses on the industrial organization of credit markets and the effect of bankruptcy schemes on borrowers’ incentives to repay, and the relationships between financing options available to firms and firm’s behaviour in product markets. This research programme draws on the methodologies of game theory and information economics as applied to industrial organization, market microstructure and corporate finance. The network brings together some of Europe's leading economists, who are working at the frontiers of these fields. The combination of skills and expertise provides a unique opportunity to train a new generation of young researchers in the microeconomic analysis of banking and financial markets.
Return to Introduction
Summary