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Publishing this November: Banking

A new title in the Routledge Major Works series, Critical Concepts in Finance, this is a five-volume collection of cutting-edge and canonical research on banking.

A word from the editor John Wilson

From the late 1980s until the summer of 2007, change in the financial services industry was driven by the twin forces of deregulation and technological change. Deregulation removed barriers to competition in traditional and new (non-banking) product areas as well as geographically. Legislative developments in North America and in Western Europe allowed for the adoption of the universal banking model. Similar changes took place in many other banking systems, including emerging markets.

Technological change revolutionised the processing and analysis of financial data, as well as delivery systems, which reduced bank costs, increased lending capacity and improved the quality and variety of financial services available to customers. In addition, financial engineering and risk management, coupled with the growth of new and broader derivatives markets, were believed to have improved banks’ risk management capabilities, and provide investors with high returns.

Up until the middle of 2007, the general consensus appeared to be that high-performing financial systems would continue to finance investment and stimulate economic growth at historically high levels. However, over the past four years or so, turmoil in the global financial system has impacted severely on what once was a profitable, fast growing, dynamic and highly innovative financial services industry. Many banks have suffered large losses and have had to raise additional capital, either privately or through their respective national governments, via a variety of bailout schemes. It is against this backdrop that this five volume Major Work collection from Routledge allows academics, practitioners and policy-makers alike to use previous research contributions to re-examine, understand and assess the role of banks in the modern economy.

Banking publishes on the 22nd November, pre-order your copy now!

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