Purpose - Besides the extensive research on managerial efficiency in the financial sector worldwide, emerging economies in Europe remain untapped. This research scrutinises the impact of managerial performance and competitive structures on their financial industry growth in terms of services...

Purpose - Besides the extensive research on managerial efficiency in the financial sector worldwide, emerging economies in Europe remain untapped. This research scrutinises the impact of managerial performance and competitive structures on their financial industry growth in terms of services...

The formal foundations of theoretical economics must be nonbehavioral and epitomize the interdependence of real and nominal variables that constitutes the monetary economy. This is a cogent conclusion from the persistent collapse of behavioral and real models. Conceptual rigor demands, first, to...

The equalization of profit rates as the outcome of free competition is one of the oldest tenets in theoretical economics. Being intuitively convincing its premises and implications, though, are not well defined. As Walras put it: ‘To state a theory is one thing; to prove it is another.’...

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...