Trends in Financial Market Concentration and Their Implications for Market Stability PDF Download

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Trends in Financial Market Concentration and Their Implications for Market Stability

Trends in Financial Market Concentration and Their Implications for Market Stability PDF Author: Nicola Cetorelli
Publisher:
ISBN: 9781422315286
Category : Capital market
Languages : en
Pages : 19

Book Description
The link between financial market concentration & stability is a topic of great interest to policymakers & other market participants. Are concentrated markets -- those where a relatively small number of firms hold large market shares -- inherently more prone to disruption? The authors find an ambiguous relationship between concentration & instability when a large firm in a conc entrated market fails. The authors also document that most U.S. wholesale credit & capital markets are only moderately concentrated, & that concentration trends are mixed -- rising in some markets & falling in others. Also identifies market characteristics that might lead to greater, or less, concern about the consequences of a large firm¿s exit. Illustrations.
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