Traditionally, financial systems have been bank-based or market-based. The efficiency properties of these systems are …, and law, finance and politics. Both systems have advantages and disadvantages. With regard to stability, both bank …

This paper investigates to which extent tough competition impacts on the macroeconomic performance of countries. The … relation between competition and innovation has been investigated intensely in industrial economics. It started with Schumpeter … highest for medium-range competition, but lower for very tough competition as well as for a very lax competitive regime …

approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of … ignores differences in bank product quality and design, as well as the attractiveness of innovations. We measure competition …This paper is the first that applies a new measure of competition, the Boone indicator, to the banking industry. This …

some studies limited, convergence of bank efficiency among countries but on average productivity improvement has been weak … from clear what the "fair value" of a bank should be. This problem may also in part explain the very sharp ups and downs of … bank stocks recently. Concerning theme 2, sources of productivity in financial services, several potentially important …

Policy makers in Europe have been concerned that lack of product market competition have led productivity to lag behind … the US. Theoretical models are ambiguous about the direction of the effect that product market competition should have on … productivity. On the one hand increasing competition lowers firm's profits and thus reduces incentives to exert effort (the …

period 1998-2005 and discusses the results from the perspective of corporate bank strategy. Methodologically the existing … concentration of the national financial sector have a considerable impact on a bank's financial performance. Both issues proved to …

countries. The European Central Bank (ECB), jointly with the Banking Supervision Committee (BSC), has an interest in monitoring …