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Global Banking$
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Roy C. Smith, Ingo Walter, and Gayle DeLong

Print publication date: 2012

Print ISBN-13: 9780195335934

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780195335934.001.0001

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Strategy and Strategic Positioning

Strategy and Strategic Positioning

(p.385) Chapter 16 Strategy and Strategic Positioning
Global Banking

Roy C. Smith

Ingo Walter

Gayle Delong

Oxford University Press

This chapter summarizes the generic processes and linkages that comprise global financial intermediation, the basic financial “hydraulics” that ultimately drive efficiency in the financial system and its impact on real-sector resource allocation and economic growth. Maximum economic welfare demands a high-performance financial system. Some of the structural changes that have occurred in both national and global financial systems are discussed. Sequentially, financial channels that exhibit greater dynamic efficiency have supplanted less effiient ones. Competitive distortions can retard this process, but they usually extract significant economic costs and, at the same time, divert financial flows into other venues, either domestically or elsewhere. Next, the consequences of this process in terms of financial services industry reconfiguration are examined, both within and among the four major segments of the industry—commercial banking, securities and investment banking, insurance, and asset management—as well as within and between national financial systems. Finally, the Client-Arena-Product model is presented, which outlines the strategy of financial firms: How should they decide what to do, for which clients, and in which markets?

Keywords:   C-A-P model, competitive distortions, industry reconfiguration

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