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In recent years, the financial sector has been extensively debated at OECD Competition meetings, thereby bringing together a variety of influential actors such as senior competition officials, market regulators, academics and representatives of the business community. Competition Issues in the Financial Sector 2011 presents the key findings from these discussions into a cohesive narrative. It also includes the executive summaries of
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Standard setting yields substantial benefits to consumers and often promotes competition to benefit consumers. Nonetheless, at times, standard setting can give rise to potential consumer harms. By bringing together different players in an industry, the standard setting process provides an opportunity for collusion, deception and strategy about which regulators must be vigilant and proactive. The discussion held found that a standard
Apparent characteristics of the Hungarian banking market such as large profits and high margins suggest weak competitive pressures. Weak competition in turn, may reduce efficiency in a lack of pressures to converge to marginal cost and to stimulate managerial efforts to reduce X-inefficiency.
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Global current account imbalances widened markedly in the years preceding the global economic crisis.
The estimated medium-term impact of Basel III implementation on GDP growth is in the range of -0.05 to -0.15 percentage point per annum.
Vigorous competition stimulates productivity and the innovation that is vital for fostering new sources of growth and competitiveness. It prevents market capture by incumbents or large firms. Competitive markets create new employment opportunities, and increase the access of consumers to cheaper and better quality products. Fair competition is one of the oldest pillars of economic progress, according to OECD Secretary-General.
Bid rigging costs governments and taxpayers billions of dollars every year. In 2011, the OECD will for the first time directly assist a member country, Mexico, as it implements tighter public procurement processes.
Closing the income gap with the OECD and enhancing distribution of growth requires reforms in many fronts. Better functioning labour and product markets and investment in skills and infrastructure would boost productivity, while well-designed social and education policies can reduce inequalities
The extent of competition in product markets is an important determinant of economic growth in both developed and developing countries.
This paper provides a broad overview of policy goals and instruments and commonly used performance and policy indicators related to land transport.