Korea needs right kind of banking competition – quarterly bulletin
Korean banks need to diversify, authors say
Competition among banks will not raise overall welfare unless accompanied by innovation, and there are signs the Korean system is failing to innovate, an article in the Bank of Korea's quarterly bulletin finds.
Published today (August 17), the article by Hyung Geun Park and Jong Ho Choi finds the Korean banking sector is monopolistically competitive, but close to perfect competition.
"Financial institutions have competed over market share in the lending market rather than developing financial
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