Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper reviews the role of competition in banking against the background of a transforming sector. It uses industrial organization and modern financial intermediation analysis to study the relationships between the level of competition, risk-taking incentives, and the regulatory frame. The consequences for market structure of the liberalization process and the need for competition policy in the sector are high-lighted. Copyright 2001, Oxford University Press.