Deregulation and Competition in the Financial Industry

David N Barron, Elizabeth West and Michael T Hannan

Industrial and Corporate Change, 1998, vol. 7, issue 1, 1-32

Abstract: Deregulation has stimulated much economic and political interest. This paper develops a framework for understanding the effects of deregulation from an ecological perspective and reports empirical studies of financial institutions (banks, thrifts and mutual funds) at two levels of analysis: the system and the population. These both show that deregulation had a dramatic impact on the level of competitive intensity within the financial industry. The main contributions of this paper are the application of a general sociological theory of organization dynamics to understanding deregulation and the development of a general approach to modelling which could lead to new ways to evaluate the organizational consequences of major environmental changes. Copyright 1998 by Oxford University Press.

Date: 1998
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