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Compétitivité des banques luxembourgeoises, monnaie unique et prospectives stratégiques des acteurs

Abstract : This thesis assesses the competitiveness of banks in Luxembourg and analyses the impact of integration of national banking markets. The first part analyses the concept of competitiveness in terms of three elements : banking efficiency (X-efficiency), the structure of market for banking, and product differentation. Banking efficiency and market structure are studied through the estimation of a translog cost function on panel data covering 136 banks in six European countries. The results indicate : average efficiency is higher for banks in Luxembourg than in other countries, economies of scale are present for smaller scale banks, economies of scope are absent. A theoretical model was developed to analyse the impact of differenciation by regulation (confidentiality) on the setting of interest rates. Empirical results obtained for the six European countries in our sample stress the importance of confidentiality as a source of economies for banks operating in Luxembourg and Switzerland. In the second part of the thesis, we measured the impact of monetary union on banking and identified the most appropriate strategies using the results of a double-round survey of forty experts. The latter believed that the short run impact of monetary union on banking in Luxembourg is essentially marginal. In the longer term, the experts in our panel considered that centripetal forces will dominate local structural factors. Thus, the europeanisation of the market for banking will intensify foreign competition for luxembourg banks. However, the survey suggest appropiate strategies may effectively attenuate the effects of competition, through product differentiation, increased specialisation, cooperation with other banks, and optimal choice of location.
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Submitted on : Tuesday, April 24, 2018 - 4:04:47 PM
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Abdelaziz Rouabah. Compétitivité des banques luxembourgeoises, monnaie unique et prospectives stratégiques des acteurs. Economies et finances. Université Nancy 2, 2000. Français. ⟨NNT : 2000NAN22003⟩. ⟨tel-01776668⟩



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