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runs, and face a threat of entry. Higher competition increases deposit rates and bank fragility, resulting in an … intermediate socially optimal level of bank competition. We provide a novel theory of bank opacity. The cost of opacity is more …
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We test for the distributional effects of regulation and entry in the mobile telecommunications sector in a highly unequal country, South Africa. Using six waves of a consumer survey of over 134,000 individuals between 2009-2014, we estimate a discrete-choice model allowing for...
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