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Oliver Landmann Nobody needs to be convinced of the importance of banking for the Swiss economy. The financial sector grew well above average in the past decade and now accounts for almost 10 % of GDP. Compared to the economy-wide average, it creates more than double as much value added per employee and it is a major contributor to Swiss ex port revenues. But this is no cause for complacency. The industry is subjf: ct to rapid change as the competitive climate has become rougher nationally and internationally. Major structural weaknesses have corne to the surface which raise serious questions...

A comparative study which examines banking in Switzerland and then explores the different practices of other major financial centres around the world. Conceptual and interpretational issues are discussed by bankers, industrial economists and econometricians.

This volume brings together a leading group of economists, financial theorists, policy-makers and bankers to analyse threats to international financial stability.