Impact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry

The global banking industry has seen dramatic changes in the past 40 years. Most recently, the financial liberalization of emerging markets and the global financial crisis have significantly impacted the market share of banks worldwide. This article investigates the impact of the 2007–2008 financial crisis on cross-border mergers and acquisitions (M&As) in the banking sector and emphasizes the role of emerging-market banks in the postcrisis consolidation trend. Using M&A data and concentration data over the period 2000–2013, our analysis indicates that the financial crisis had a significant impact on worldwide M&As, especially on the direction of the transactions. Emerging-market banks appear to be major acquirers in the postcrisis period, targeting both neighboring countries and developed economies in Europe. We also observe an increase in bank concentration in developed markets most hit by the financial crisis, especially in the United States and the United Kingdom, whereas bank concentration decreased in emerging markets.

A Global Review on Peri-Urban Development and Planning

Urban regions worldwide are increasingly facing the challenge of dealing with highly dynamic metropolitan growth and, at the same time, institutional changes like decentralisation and globalisation. These kinds of changes express themselves most evidently in peri-urban areas, where urban and rural life meets. These peri-urban areas in particular have been the stage for rapid physical, social and economic transformations, both in developed and developing countries. Peri-urbanization takes place here. Based on literature review, this paper presents an effort to identify generic attributes of peri-urbanisation and the way in which development planning tends to reply. Three major attributes are identified: peri-urban space (the spatial expression of peri-urban development), peri-urban life (the functional appearance of land uses, activities and peri-urban innovation), and peri-urban change (a causal and temporal perspective featuring flows and drivers of change). It is also shown that prevalent institutional replies in planning and development generally fail to acknowledge the dynamic and increasingly fragmented attributes of global peri-urbanisation.