Series: IMF Working Papers
Author(s): Stijn Claessens
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2009
Keywords: competition policy, contestability, stability, degree of competition, General Financial Markets: General (includes Measurement and Data), General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation, Market Structure, Firm Strategy, And Market Performance
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....