This article analyzes the costs and benefits of different degrees of competition and different configurations of permissible activities in the financial sector and discusses the related implications for regulation and supervision. Theory and experience demonstrate the importance of competition for efficiency and confirm that a competitive environment requires a contestable system meaning one that is open to competition-but not necessarily a large...
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INFORMATION
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2001/12/01
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Article de revue
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76654
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1
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1
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2013/04/15
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Disclosed
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Competition and scope of activities in financial services
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federal reserve bank of new york
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