Read more
Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that started in the United States in the 1970s. The global financial crisis of 200709, which originated from an oversupply of credit, once again raised questions about excessive banking competition and what should be done about it. Competition and Stability in Banking addresses the critical relationships between competition, regulation, and stability, and the implications of coordinating banking regulations with competition policies.
About the author
Xavier Vives is Professor of Economics and Finance at IESE Business School. He has been Research Professor at Institut d'Analisi Economica (CSIC) and ICREA-UPF, Professor at INSEAD, Harvard Universty, the University of Pennsylvania and New York University, and has taught at the University of California, Berkeley, Universitat Autonoma de Barcelona and Universita Pompeu Fabra. Professor Vives's research has appeared in leading international journals including the American Economic Review, Econometrica, Review of Economic Studies and the Journal of Political Economy. He is also the author of Information and Learning in Markets (Princeton UP, 2008) and Oligopoly Pricing: Old Ideas and New Tools (MIT Press, 1999). He has been editor of international academic journals and has received several research prizes and honors such as being elected Fellow of the Econometric Society in 1992 and of the European Economic Association in 2004. He has a PhD in Economics from UC Berkeley.
Summary
Does too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? Institutional responses to such questions have evolved over time, from interventionist regulatory control after the Great Depression to the liberalization policies that started in the United States in the 1970s. The global fi
Additional text
"Competition and Stability in Banking can be said to represent the best of available knowledge. . . . An impressive work of one of the leading economists in the field. It is first of all a (rather: the) new textbook on a Master or PhD level. Yet, it should also be mandatory reading to all economists (and lawyers) working in official or government agencies related to either banking regulation and supervision or competition."---Urs Birchler, Journal of Economics and Statistics
Report
"Now that the global financial crisis has subsided, governments and regulators must deal with the issue of what to do about banking competition in the long term. Xavier Vives is one of the most distinguished and knowledgeable economists in the world, and his excellent and timely book analyzes the interactions between banking regulation and competition policy. It will be useful to experts in the field and of interest to general readers."--Franklin Allen, Imperial College London and University of Pennsylvania