With a comprehensive dataset covering 148 countries over 1995–2015, this study investigates the relationship between competition and efficiency in the banking industry. Evidence shows that bank competition is detrimental to cost efficiency, which is at variance with the intuitive “quiet life” hypothesis. The bank regulatory and institutional environment in which banks operate not only influences bank efficiency, but also affects the link between competition and efficiency. Restrictive regulations on bank activities and stringent capital requirements reduce, whereas effective supervision and information sharing of credit registries increase efficiency. The adverse impact of competition on efficiency can be mitigated or even reversed by well-implemented regulations, supervision, and information sharing mechanisms.

本研究使用涵盖 1995-2015 年 148 个国家的综合数据集，调查银行业竞争与效率之间的关系。有证据表明，银行竞争不利于成本效率，这与直观的“安静生活”假设不符。银行经营所处的银行监管和制度环境不仅影响银行效率，而且影响竞争与效率之间的联系。对银行活动的限制性监管和严格的资本要求减少了，而信用登记处的有效监管和信息共享则提高了效率。良好实施的法规、监督和信息共享机制可以减轻甚至逆转竞争对效率的不利影响。