Unexpected problems sometimes arise when governments attempt to introduce competition. The problem considered herein is market power and its exercise during the California electricity crisis of 2000–2001. In introducing competition, both transitional and long-run opportunities for firms...

We identify 72 bank Mergers and Acquisitions (M&As), in which US banks acquired other financial institutions. We focus on the role of timing at M&A in the context of boom phase and financial crisis. Applying event study methodology, we examine: value generation to bank shareholders; value...

Prepared for a conference on the significance of Erich Hoppmann's contribution to competition theory and policy, the articles collected in this volume discuss central issues of the role of competition policy in a free society, including in particular issues raised by the "more economic approach"...

This technical note analyzes the competition in the banking sector in Denmark. It reveals that Denmark has a fairly competitive and efficient banking sector. Measured by various indicators, efficiency of banking intermediation has been improving in recent years. The banking sector has become...

Increasing the private sector participation in economic activities and promoting competition were among the First 5 Year Socio-Economic Plan of Iran. This paper will examine the probable changes in monopoly and the size of government during this plan. By considering Concentration ratio as a...

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...

The paper assesses the degree of banking competition and efficiency in Italy?over time as well as compared to that in other countries, such as France, Germany, Spain, the United Kingdom, and the United States. The paper finds competition in the Italian banking sector has intensified in loan and...

Traditional bank competition policy seeks to balance efficiency with incentives to take risk. The main tools are rules guiding entry/exit and consolidation of banks. This paper seeks to refine this view in light of recent changes to financial services provision. Modern banking is largely...

The ultimate objective of the present paper is to empirically investigate the effectiveness of competition policy in developed and developing countries. Although its importance is continuously increasing, the effectiveness of competition policy still seems to lack the attention that it would...