This paper uses data from Taiwan'S banking sector to investigate whether state-owned banks can serve as an internal regulation mechanism to sustain market competition. In contrast to the traditional second-best literature, the evidence shows that a certain degree of market coordination exists in...

This paper uses data from Taiwan’s banking system to investigate the relationship between banking market structure and industrial growth. We find that bank concentration does not necessarily promote output growth of those industries that are more dependent on external finance if the government...

This paper investigates the channels through which institutions may have an effect on market competition. The main result of the investigation is that there is a strong and robust relationship between institutions and market competition: economies with better institutions are much more likely to...