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Competition in the Financial Sector; Overview of Competition Policies

Claessens, Stijn - International Monetary Fund (IMF) - 2009

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …, however, that unfettered competition is not first best given the special features of finance. I review these analytics and … describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of …

Persistent link: https://www.econbiz.de/10005826668

Privatization and Public Enterprises

Hemming, Richard; Mansoor, Ali M. - International Monetary Fund (IMF) - 1998

Persistent link: https://www.econbiz.de/10005590918

Australia; Addressing Systemic Risk Through Higher Loss Absorbencyâ€”Technical Note

International Monetary Fund (IMF); International … - 2012

Australiaâ€™s four largest banks can be considered domestically systemic. They make up the lionâ€™s share of the banking system, use similar business models, and are interconnected. The top four banks are relatively similar in terms of systemic importance, partly reflecting the...

Persistent link: https://www.econbiz.de/10011245198

Trade Policy with Heterogeneous Traders; Do Quotas Get a Bum Rap?

Krishna, Kala; Tan, Ling Hui - International Monetary Fund (IMF) - 2007

This paper considers the effects of trade policy-tariffs and quotas-when importing is done by competitive traders who are identical ex ante but differ ex post. We show that the standard equivalence results no longer hold and the conventional ranking of tariffs and quotas is turned on its head:...

Persistent link: https://www.econbiz.de/10005248181

Globalization Drives Strategic Product Switching

Badia, Marialuz Moreno; Slootmaekers, Veerle; Beveren, … - International Monetary Fund (IMF) - 2008

Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm …

Persistent link: https://www.econbiz.de/10005263707

Precautionary Demand for Foreign Assets in Sudden Stop Economies; An Assessment of the New Merchantilism

Mendoza, Enrique G.; Durdu, Ceyhun Bora; Terrones, Marco - International Monetary Fund (IMF) - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this...

Persistent link: https://www.econbiz.de/10005263736

Does Sequencing of Privatization Matter in Reforming Planned Economies?

Husain, Aasim M.; Sahay, Ratna - International Monetary Fund (IMF) - 1992

Although a centerpiece of the reform process in Central and Eastern Europe, large-scale privatization cannot be undertaken all at once and policymakers inevitably face the choice of privatizing some sectors before others. This paper analyzes the allocative efficiency implications of alternate...

Persistent link: https://www.econbiz.de/10005264168

Foreign Banks; Trends, Impact and Financial Stability

Horen, Neeltje van; Claessens, Stijn - International Monetary Fund (IMF) - 2012

This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...

Persistent link: https://www.econbiz.de/10009650620

The Valuation Effects of Geographic Diversification; Evidence From U.S. Banks

Laeven, Luc; Goetz, Martin R.; Levine, Ross - International Monetary Fund (IMF) - 2012

This paper assesses the impact of the geographic diversification of bank holding company (BHC) assets across the United States on their market valuations. Using two novel identification strategies based on the dynamic process of interstate bank deregulation, we find that exogenous increases in...

Persistent link: https://www.econbiz.de/10009654142

The Rise of Foreign Investment in China's Banks; Taking Stock

Leigh, Lamin; Podpiera, Richard - International Monetary Fund (IMF) - 2006

. International experience suggests that greater competition from and participation of foreign banks can in general bring important …

Persistent link: https://www.econbiz.de/10005825702