This paper investigates the empirical relationship between competition in the financial sector and the creation of firms in the non-financial sector. It finds that bank competition has an overall positive effect on firm creation. However, consistent with theories of banking arguing that...

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...

The technical note on Mexico’s Financial Sector Assessment Program update analyzes that the private pension system’s regulator in Mexico has introduced innovate rules. Mexico, as with many other countries in Latin America, has adopted an individual capitalization pension system....

Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...

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 Intercontinental Exchange's current attempted acquisition of NYSE-Euronext is the third takeover proposal in as many years. In this article the two previous attempts are reviewed and lessons are drawn from an antitrust and competition policy perspective concerning the evolving competitive...

This study reinvestigates the theoretical relationship between competition in banking and banks' exposure to risk of failure. There is a large existing literature that concludes that when banks are confronted with increased competition, they rationally choose more risky portfolios. We briefly...

This paper examines the evolution of market structure in emerging market banking systems during the 1990s. While significant bank consolidation has been taking place in these countries, reflected in a sharp decline in the number of banks, this process has not systematically been associated with...

This 2005 Article IV Consultation highlights that economic growth in Morocco has been volatile and insufficient to significantly reduce poverty and unemployment. Growth averaged 3 percent over the last decade. It has been volatile because of the dependency of agriculture on rainfalls. In 2004,...