歐洲銀行業的挑戰與因應：金融自由化、證券化與單一市場

周添城

《經濟研究》 30期 (1990/06) Pp. 37-77

https://doi.org/10.29765/TEI.199006.0001

摘要

本文主要探討金融自由化與歐洲單一市場，對單一市場銀行業之衝擊與其因應。金融自由化的內涵相當複雜，本文以放寬銀行經營業務的限制，允許金融創新與銀行業務證劵化爲主軸來討論。至於，歐洲單一市場方面，則以資本自由移動與自由設立銀行這兩大部分的歐洲金融整合工作來討論。金融自由化、證劵化帶來經營業務多角化的影響；單一市場則可能帶來經營市場地理的多角化的影響。短期內，收購與合併可能是達成這兩種多角化的有效策略，這是目前歐洲銀行業非常普遍的現象。預料經由這番調整，歐洲銀行業將趨向大型化、綜合化與集中化。

並列摘要

This paper studies the impacts of fincial liberalization and European financial market integration on the European banking industry. There are many aspects of financial liberalization, among them this study focuses on releasing the regulations of financial products, particularly, on financial innovation and securitisation. Under the Single European Act, the European banking industy is faced with liberalization of capital movements and free provision of banking services. Financial liberalization and securitisation provide the bank an opportunity to obnain scope economies through product-diversification; and European financial integration provide scale economies through geographic diversification. Acquisition and merger, however, could be an effective strategy to realize both diversification. As the result, the European banking would be more and more concentrated.