Regulatory Distortions in a Competitive Financial Services Industry |
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| Authors: | Arnoud W.A. Boot Silva Dezõelan Todd T. Milbourn |
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| Affiliation: | (1) Faculty of Economics and Econometrics, University of Amsterdam, The Netherlands;(2) University of Amsterdam, The Netherlands;(3) London Business School, Institute of Finance and Accounting, United Kingdom |
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| Abstract: | This paper focusses on the interaction between regulation and competition in a simple industrial organization model. We analyze how regulation affects the profitability of financial institutions. We find that information asymmetries impose a heavy regulatory burden on the higher-quality banks, highlighting the importance of fine-tuning regulation. Our other main results point at the importance of a level playing field. |
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| Keywords: | banking competition regulation |
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