Money Monetary Policy

A New Measure of Competition in the Financial Industry: The - download pdf or read online

By Jacob A Bikker, Michiel van Leuvensteijn

ISBN-10: 0415870402

ISBN-13: 9780415870405

The 2008 credits main issue began with the failure of 1 huge financial institution: Lehman Brothers. for the reason that then the point of interest of either politicians and regulators has been on stabilising the economic system and combating destiny monetary instability. At this juncture, we're on the final degree of future-proofing the monetary area through elevating capital specifications and tightening monetary law. Now the coverage time table must be aware of remodeling the banking zone into an engine for development. Reviving festival within the banking region after the kingdom interventions of the previous years is a key step during this process.

This ebook introduces and explains a comparatively new inspiration in pageant dimension: the performance-conduct-structure (PCS) indicator. the foremost inspiration at the back of this degree is firm’s potency is extra hugely rewarded when it comes to marketplace proportion and revenue, the better aggressive strain is. The e-book starts by way of explaining the monetary market’s primary stumbling blocks to pageant proposing a short survey of the complicated dating among monetary balance and pageant. The theoretical contributions of Hay and Liu and Boone give you the theoretical underpinning for the computers indicator, whereas its software to banking and assurance illustrates its empirical features. ultimately, this publication offers a scientific comparability among the result of this strategy and (all) latest tools as utilized to forty six nations, over an identical pattern interval.

This ebook provides a accomplished evaluation of the knowns and unknowns of monetary area pageant for advertisement and significant bankers, policy-makers, supervisors and teachers alike.

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Extra resources for A New Measure of Competition in the Financial Industry: The Performance-Conduct-Structure Indicator

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Bank services for wholesale clients usually show an even higher level of sophistication, although, of course, those clients are also more professional. Financial institutions offer a wide range of heterogeneous products, most probably in response to market demands, but in addition, they may well have purposely raised product complexity to be able to exploit monopolistic competition. An incentive to offer more transparent products seems absent. This potential weakness of financial markets is aggravated by the behaviour of the clients of financial institutions, as discussed below.

CPB (2005). Competition in markets for life insurance. CPB Document no. 96, CPB Netherlands Bureau for Economic Policy Analysis, The Hague. Cummins, J. David and Mary A. Weiss (2013a) Systemic risk and the regulation of the US insurance industry, Working Paper, Temple University, Philadelphia. Cummins, J. David and Mary A. ), Handbook of Insurance, 2nd edn, New York: Springer. Cummins, J. David and Mary A. 12039. , M. Saidenberg and P. Strahan (1996) Banks with something to lose: The disciplinary role of franchise value, FRBNY Economic Policy Review October: 1–14.

M. Schürz and B. Weber (2003) Transparency as a mechanism of governance in financial systems. Paper presented at the conference Transformation of Statehood, Austrian Academy of Sciences, Vienna, 23–25 January 2003. NMa (2006). Financial Sector Monitor 2006. The Hague: NMa (Dutch competition authority). A. and R. Rajan (1995) The effect of credit market competition on lending relationships. Quarterly Journal of Economics, 110, 407–443. V. Thakor (1984), Information reliability and a theory of financial intermediation, Review of Economic Studies 51, 415–432.

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A New Measure of Competition in the Financial Industry: The Performance-Conduct-Structure Indicator by Jacob A Bikker, Michiel van Leuvensteijn

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