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Banking on the Wire

In: The New International Money Game

Author

Listed:
  • Robert Z. Aliber

    (University of Chicago)

Abstract

A revolution is hitting commercial banks. The technology of money payments is changing; the transfer of pieces of paper as parts of the money payments is being replaced by transmission of electronic impulses and computer tapes. As a result, the geographic scope of banking markets is increasing; formally protected regional markets are increasingly subject to competition from banks headquartered in other countries and areas. The effectiveness of national cartels in limiting competition among banks is declining. In the 1960s, US banks expanded rapidly abroad; in the late 1970s and 1980s, foreign banks and especially banks headquartered in Japan became extremely aggressive in the US markets for deposits and loans.

Suggested Citation

  • Robert Z. Aliber, 2002. "Banking on the Wire," Palgrave Macmillan Books, in: The New International Money Game, edition 0, chapter 17, pages 265-278, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50097-6_17
    DOI: 10.1057/9780230500976_17
    as

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