Abstract

The recent financial crisis has revealed the unexpected fragility of financial systems in the industrialized countries. The process of national deregulation that started in the 1980s led to an intense process of consolidation of financial institutions. Consequently, both in the United States and in Europe, the degree of concentration in banking systems increased significantly.KeywordsStock ReturnTotal AssetSystemic RiskStock PrexEuropean Central BankThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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