Monopoly versus Competition in Banking: Some Implications for Growth and Welfare
Monopoly versus Competition in Banking: Some Implications for Growth and Welfare
复制标题
银行业垄断与竞争：对增长和福利的一些影响
DOI：
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发表时间：
2005
期刊：
影响因子：
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通讯作者：
Ke Wang
中科院分区：
文献类型：
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作者：
B. Smith;Beatrix Paal;Ke Wang
我们考虑金融体系的产业组织如何影响经济的宏观经济表现。特别是，我们比较了两个在其他方面完全相同的货币经济体--一个是竞争性银行体系，另一个是垄断性银行体系--从银行流动性供给、资产配置、储蓄行为、长期真实的增长和储户福利等维度进行了沿着比较。我们发现，银行业的垄断可以潜在地促进增长。然而，这两个银行体系的相对表现关键取决于名义利率水平。
We consider how the industrial organization of the financial system affects an economy’s macroeconomic performance. In particular, we compare two otherwise identical monetary economies — one with a competitive and the other with a monopolistic banking system — along the dimensions of bank liquidity provision, asset allocation, savings behavior, long-run real growth, and depositor welfare. We find that monopoly in banking can potentially be growth promoting. However, the relative performance of the two banking systems depends crucially on the level of nominal interest rate.