EXPLANATORY FACTORS OF MARKET POWER IN THE BANKING SYSTEM*

Joaquı́n Maudos

108 citations0/0 files storedManchester School

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Banking stability, regulation, efficiency Merger and Competition Analysis Banking Systems and Strategies

Abstract

The aim of the study is to analyse the explanatory factors of market power in the banking system. Using as laboratory the Spanish banking system in the period 1986–2002, results show an increase of market power from the mid‐1990s. Of the set of variables that the model posits as explaining market power, those with the greatest explanatory power are size, efficiency and specialization; concentration is not significant. This last result shows the limitations of the approaches, studies and decision‐making rules of economic policy that uses market concentration as a proxy for the degree of competition.

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References

1997Problem loans and cost efficiency in commercial banks 1987Testing For "Monopoly" Equilibrium 1995The Profit-Structure Relationship in Banking--Tests of Market-Power and Efficient-Structure Hypotheses 2004What Drives Bank Competition? Some International Evidence 2003What Drives Bank Competition? Some International Evidence 2002Competition, concentration and their relationship: An empirical analysis of the banking industry 2004Factors explaining the interest margin in the banking sectors of the European Union 2004Bank Concentration and Competition: An Evolution in the Making

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