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Competition and Entry in Banking: Implications for Stability and Capital Regulation

Boot, Arnoud W A; Marinc, Matej - C.E.P.R. Discussion Papers - 2006

We assess the influence of competition and capital regulation on the stability of the banking system. We particularly … show that competition improves the monitoring incentives of better quality banks and deteriorates the incentives of lower … quality banks; and that precisely for those lower quality banks competition typically compromises the effectiveness of capital …

Persistent link: https://www.econbiz.de/10005666421

The Determinants of Privatized Enterprise Performance in Russia

Angelucci, Manuela; Bevan, Alan; Estrin, Saul; Fennema, … - C.E.P.R. Discussion Papers - 2002

; corporate governance; market structures and competition; and financial constraints. We conclude that private ownership and …

Persistent link: https://www.econbiz.de/10005666814

Financial Integration and Entrepreneurial Activity: Evidence from Foreign Bank Entry in Emerging Markets

Giannetti, Mariassunta; Ongena, Steven - C.E.P.R. Discussion Papers - 2005

An extensive empirical literature has documented the positive growth effects of equity market liberalization. However, this line of research ignores the impact of financial integration on a category of firms crucial for economic development, i.e. the small entrepreneurial firms. This paper aims...

Persistent link: https://www.econbiz.de/10005666993

Competition, Entry, and the Social Returns to Infrastructure in Transition Economies

Aghion, Philippe; Schankerman, Mark - C.E.P.R. Discussion Papers - 1999

product market competition. This leads to more effective weeding out of the existing high-cost firms in the market. In this …

Persistent link: https://www.econbiz.de/10005667044

Regulation and Incentives in European Aviation

Gagnepain, Philippe; Uribe, Marín; Luis, Pedro - C.E.P.R. Discussion Papers - 2004

The aim of this Paper is to evaluate simultaneously market power and the incentives faced by carriers to improve efficiency, taking into account the regulatory changes that have affected the European airline industry. We construct and estimate a model that includes demand, capacity, and cost...

Persistent link: https://www.econbiz.de/10005667136

Competition, Globalization and the Decline of Inflation

Chen, Natalie; Imbs, Jean; Scott, Andrew - C.E.P.R. Discussion Papers - 2004

We investigate theoretically and empirically the competitive effects of increased trade on prices, productivity and markups. Using disaggregated data for EU manufacturing over the period 1988-2000 we find increased openness exerts a negative and significant impact on sectoral prices. Increased...

Persistent link: https://www.econbiz.de/10005667140

A Theory of Rent Seeking with Informational Foundations

Lagerlöf, Johan N. M. - C.E.P.R. Discussion Papers - 2006

microfoundations, the welfare consequences of rent seeking can be studied. In particular, I show that competition among rent seekers …

Persistent link: https://www.econbiz.de/10005788985

Competition for Listings

Foucault, Thierry; Parlour, Christine A - C.E.P.R. Discussion Papers - 1999

that competition does not guarantee that exchanges choose welfare maximizing trading rules. In some cases, welfare is …

Persistent link: https://www.econbiz.de/10005789046

Optimal Competition: A Benchmark for Competition Policy

Boone, Jan - C.E.P.R. Discussion Papers - 2003

This Paper introduces optimal competition: the best form of competition in an industry that a competition authority can … competition outcome in an industry becomes more competitive as more money is spent in the industry, as the competition authority … puts less weight on producer surplus and more weight on employment. The relation between competition and entry costs is U …

Persistent link: https://www.econbiz.de/10005789187

Imperfect Competition in the Inter-Bank Market for Liquidity as a Rationale for Central Banking

Acharya, Viral V; Gromb, Denis; Yorulmazer, Tanju - C.E.P.R. Discussion Papers - 2008

We study liquidity transfers between banks through the interbank borrowing and asset sale markets when (i) surplus banks providing liquidity have market power, (ii) there are frictions in the lending market due to moral hazard, and (iii) assets are bank-specific. We show that when the outside...

Persistent link: https://www.econbiz.de/10005791217