Review of Industrial Organization 19: 503–505, 2001. Book Review THE BANK MERGER WAVE: The Economic Causes and Social Consequences of Financial Consolidation, Gary A. Dymski. Armonk, NY: M.E. Sharpe, 1999, xxi + 320 pages, $24.95 (paper). ISBN 0-7656-0383-7. Pursuits of mergers and acquisitions in American business in the recent years are well known to academicians, government agencies, and the public at large. The banking sector is no exception as Gary A. Dymski in his book, The Bank Mer- ger Wave, makes clear. In the Foreword section of the book, Dymski cites some impressive numbers to prove his point as, for example, an average of 1.7 banks disappeared through mergers each day during the decades of the 1980s and 1990s. In all, some 7,402 bank mergers totaling $1.8 trillion in assets took place despite U.S. antitrust laws. As a proof of banking regulators’ leniency in enforcing antitrust rules, between 1982 and 1992, they approved 205 of 211 bank merger applications with the effect of increasing market concentration. The ﬁrst two chapters labelled “Introduction” and “Overview” layout the es- sential reasons for undertaking this study. These two chapters provide, in the meantime, a summary of some important results as well as
Review of Industrial Organization – Springer Journals
Published: Oct 3, 2004
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