20 They argue that banking concentration measures are not a good proxy for the degree of competition in banking markets when controlling for regulatory and other variables related to the contestability of markets. More recent work shows that more competitive banking systems are less prone to systemic crises.
If we can get on with the job, not only will we help ourselves, we will also improve the long-term prospects for the global economy. And that is an outcome that’s in everyone’s interest. BIS Review 44/2005  3