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Competition and Stability in Banking

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  • Xavier Vives

Abstract

I review the state of the art of the academic theoretical and empirical literature on the potential trade-off between competition and stability in banking. There are two basic channels through which competition may increase instability: by exacerbating the coordination problem of depositors/investors on the liability side and fostering runs/panics, and by increasing incentives to take risk and raise failure probabilities. The competition-stability trade-off is characterized and the implications of the analysis for regulation and competition policy are derived. It is found that optimal regulation may depend on the intensity of competition.

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  • Xavier Vives, 2010. "Competition and Stability in Banking," CESifo Working Paper Series 3050, CESifo.
  • Handle: RePEc:ces:ceswps:_3050
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    More about this item

    Keywords

    antitrust; regulation; crisis; risk-taking; mergers; state aid; bail-outs;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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