The Complementary Nature of Competition and Regulation in the Financial Sector

Jack R. S. Revell and Dirk Heremans

Chapter 2 in Competition and Regulation in Financial Markets, 1981, pp 16-34 from Palgrave Macmillan

Abstract: Abstract The main theme of this chapter is that competition and regulation are not alternatives to each other in the financial sector, but that a competitive financial system requires close regulation and supervision by the authorities. I decided on this theme largely because in Europe the debate is often carried on in terms of ‘competition versus regulation’. This seems to echo the current debate in the United States on the deregulation of depository institutions and, indeed, the chapters of F. R. Edwards and R. A. Taggart in this volume (chapters 1 and 3) are concerned with that debate. I think there are great dangers in transposing the debate into a European context without being aware of what it is about and what it does not call into question.

Keywords: Current Account; Banking System; Real Estate Investment Trust; Allocative Efficiency; Saving Bank (search for similar items in EconPapers)
Date: 1981
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05585-2_2

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DOI: 10.1007/978-1-349-05585-2_2

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