Open borders imply systems competition. This paper studies the implications of systems competition for the national … competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since … profits. Instead of such an equilibrium, a deregulation race is likely to emerge in which all but the last country repeal …

Using proprietary individual level loan data, this paper explores the economic consequences of the 2009 bank entry … deregulation in China. Such deregulation leads to higher screening standards, lower interest rates, and lower delinquency rates for … following deregulation. Deregulation also amplifies bank credit from productive private firms to inefficient SOEs due mainly to …

competition among large countries (US/EU) to negotiate preferential arrangements with smaller countries or regions will lower … barriers, and eventually add fresh impulse to new multilateral WTO negotiations. In commercial policy terms, the US interest in …

one another depends on the capacity to transmit electricity" between the locations. We study the impact of transmission … capacity on competition among" generators. We show that there may be no relationship between the effect of a transmission line …" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are …

This paper studies the impact that capital market imperfections have on the natural" selection of the most efficient … firms by estimating the effect of the pre-deregulation level of" leverage on the survival of trucking firms after the Carter … deregulation. Highly leveraged" carriers are less likely to survive the deregulation shock, even after controlling for various …

Although policymakers often discuss tradeoffs between bank competition and stability, past research provides differing … theoretical perspectives and empirical results on the impact of competition on risk. In this paper, we employ a new approach for … competition materially boosts bank risk. With respect to the mechanisms, we find that competition reduces bank profits, charter …

process of interstate bank deregulation that lowered barriers to competition across U.S. states over the 1980s and 1990s with …Does an intensification of competition among banks increase or decrease liquidity creation? By integrating the dynamic … facing each individual bank. We find that regulatory-induced competition reduced liquidity creation. Consistent with some …