| As the wave of global economic integration rises, almost each nation is trying their best to enhance the degree of openness and better off its national welfare. In order to adapt the economical openness requirements, financial regulation is relaxed unceasingly and the competition in the banking industry becomes intense gradually. However, the competition in banking industry of both developed western countries and the emerging market countries has not always been smooth, even suffered financial crisis, such as bank crisis and money crisis and so on. Especially since August 2007, the United States sub-prime crisis triggered a new round of global financial turmoil and a number of large-scale integrated banking institutions, such as Citigroup, UBS and HSBC Group have suffered serious losses. With the further evolution of the sub-prime crisis for the global financial turmoil, market pessimism have been more and more intense and the world's banking industry have plunged into panic and turmoil, which has caused the serious losses for the entire world's economic development. Therefore, how to achieve effective competition in the banking industry is becoming the focus of study at present.The banking industry has been the important component of our financial system. On December 11, 2006, China opened the domestic banking market completely complying with the commitment to the WTO. Facing the integration of international finance, Chinese banking and the related regulatory reform have been progressing actively during the five years' transitional stage. While the systematic risk of banking still can not be underestimated, and there is still a certain gap between China and the developed countries in the banking competition. In order to deal with the complex financial innovation as well as the intense competition environment, especially the adverse impact of this financial turmoil, we should strengthen the effective competition and enhance the banking international competitiveness, which has great significance to ensure Chinese financial security and sustained developmentBased on the research importance of the above-mentioned international and domestic developments in the banking industry, as well as the long-term study accumulation, I choose "the research on the effective competition in the banking industry" as the research thesis of the doctoral dissertation. This dissertation takes the industrial organization theory as well as the financial contract theory as the foundation and designs the research framework of effective competition in the banking industry for systematic study.This dissertation includes seven chapters. Chapter One is the introduction, which contains research background, the research significance and the innovative points. Chapter Two carries on the effective competition in the banking industry, elaborates on its connotation and the judgment criteria and discusses the particularity in the effective competition of the banking from the intrinsic vulnerability of the banking and the external information asymmetry. Chapter Three conducts the research on the effective competition in the banking industry from the perspective of performance promotion. This dissertation finds that "monopolistic competition" or "competitive oligopoly" with a relatively high concentration is the more reasonable banking market structure. The large-scale banks or the banks with the market dominance have the ability to exert competitive advantage. Chapter Four conducts the research on the effective competition in the banking industry from the perspective of risk prevention. This dissertation finds that establishing proper risk management system is essential for the stability of the banking industry development in enhancing competition efficiency because of the bank's own vulnerabilities Chapter Five conducts the research on the effective competition in the banking industry from the perspective of financing efficiency. This dissertation finds the development of relationship financing and information-sharing mechanisms can alleviate the credit market failure and enhance the intermediation efficiency as well as allocative efficiency in the credit markets. Chapter Six makes empirical studies on the banking competition of Germany, the United States and Mexico. This dissertation finds that in German banking industry steady operation is stressed more than competition, which results in the fact that its overall performance has been lain behind the developed countries; and the banking industry of the United States have encountered on the excessive competition and one of the big problem in the banking industry of Mexico is how to correctly deal with foreign banks. All of this supplies important reference for achieving effective competition in Chinese banking industry. Chapter Seven conducts the research on the effective competition in Chinese banking industry. This dissertation analyzes the current market structure of Chinese banking industry, explores the basic types and the reasons for its formation, makes further empirical study on the effective competition in Chinese banking industry and proposes measures to strengthen the banking competition to ensure the stability of the banking industry and achieve the competitive.In this dissertation, the innovative points are mainly embodied in the following four aspects: First, this dissertation elaborates on the connotation and the premise supposition of the effective competition in banking industry and carries on the judgment criteria of effective competition in the banking from the multi-dimensional perspective of performance promotion, risk prevention and financing efficiency, which has laid the foundation on the theory of the effective competition of banking industry. Second, the paper highlights that the effective competition in the banking industry has some distinctive characteristics, and dwells on it relatively deeply. Thirdly, this dissertation conducts the research on the efficiency and risk the banking industry of Germany, the United States and Mexico. This dissertation finds that the relations among competition, stability and financing are complex, and how to maintain a appropriate relationship of stability and healthy of the banking industry becomes a major challenge for them. Fourth, this dissertation proposes a series of opinion on the effective competition in Chinese banking industry based on the empirical research. This dissertation investigates empirically the competitive conditions for China's banking industry on the basis of nonstructural estimation to further elaborate on the understanding of the policy framework of effective competition in Chinese banking and proposes the measures to promote Chinese banking industry healthy and efficiency.
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