In a retail banking sector characterised by both high concentration and low consumer switching, questions arise for Australian policy makers and regulators as to the effectiveness of competition as one important means by which economic outcomes are engendered, including innovation beneficial to consumers and consumer welfare generally. Such questions include the appropriate response to ‘digital...

In the financial services sector, the failure of a single institution can have a compounding effect on the sector, and on national and global economies. In particular, there is systemic risk from inter-institution lending, and this effect is more complex in Australia due to the small number of major players. In retail banking in Australia...