This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
On the Measurement of Market Power in the Banking Industry Author info | Abstract | Publisher info | Download info | Related research | Statistics Manthos D. Delis
K. Christos Staikouras
Panagiotis T. Varlagas
Additional information is available for the following
registered author(s):
This paper compares the estimates of the two most widely used non-structural models for market power measurement in banking, namely the conduct parameter method and the revenue test, as applied to three panels of Greek, Latvian and Spanish banks over the period 1993-2004. We also propose a dynamic reformulation of these models within a panel data context, in order to address possible statistical problems associated with the dynamic nature of bank-level data. The results suggest that both static methods provide lower estimates of market power relative to their dynamic counterparts. Therefore, the inclusion of some dynamics in the models, even though it increased estimation complexity, helped to reveal some collusive behavior of banks. Copyright (c) 2008 The Authors Journal compilation (c) 2008 Blackwell Publishing Ltd.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by Blackwell Publishing in its journal Journal of Business Finance & Accounting .
Volume (Year): 35 (2008-09)
Issue (Month): 7-8 ()
Pages: 1023-1047
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:bla:jbfnac:v:35:y:2008-09:i:7-8:p:1023-1047Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0306-686X
Order Information: Web: http://www.blackwellpublishing.com/subs.asp?ref=0306-686X
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Keywords: Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Shaffer, Sherrill, 2004.
"Patterns of competition in banking ,"
Journal of Economics and Business ,
Elsevier, vol. 56(4), pages 287-313.
[Downloadable!] (restricted)
Joseph P. Hughes & Loretta J. Mester, 1998.
"Bank Capitalization And Cost: Evidence Of Scale Economies In Risk Management And Signaling ,"
The Review of Economics and Statistics ,
MIT Press, vol. 80(2), pages 314-325, May.
[Downloadable!] (restricted)
Other versions: Hondroyiannis, George & Lolos, Sarantis & Papapetrou, Evangelia, 1999.
"Assessing competitive conditions in the Greek banking system ,"
Journal of International Financial Markets, Institutions and Money ,
Elsevier, vol. 9(4), pages 377-391, November.
[Downloadable!] (restricted)
Bresnahan, Timothy F., 1989.
"Empirical studies of industries with market power ,"
Handbook of Industrial Organization ,
in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057
Elsevier.
[Downloadable!] (restricted)
Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 58(2), pages 277-97, April.
[Downloadable!] (restricted)
Heather D. Gibson, 2005.
"Greek Banking Profitability: recent developments ,"
Economic Bulletin ,
Bank of Greece, Economic Research Department, issue 24, pages 7-25, January.
[Downloadable!]
Shaffer, Sherrill & DiSalvo, James, 1994.
"Conduct in a banking duopoly ,"
Journal of Banking & Finance ,
Elsevier, vol. 18(6), pages 1063-1082, December.
[Downloadable!] (restricted)
Other versions: Binder, M. & Hsaio, C. & Pesaran, M.H., 2000.
"Estimation and Inference in Short Panel Vector Autoregressions with Unit Roots and Cointegration ,"
Cambridge Working Papers in Economics
0003, Faculty of Economics, University of Cambridge.
[Downloadable!]
Other versions:
Michael Binder & Cheng Hsiao & M. Hashem Pesaran, 2000.
"Estimation and Inference In Short Panel Vector Autoregressions with Unit Roots And Cointegration ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo Group Munich.
[Downloadable!] Michael Binder, Cheng Hsiao, and M. Hashem Pesaran, 2001.
"Estimation and Inference in Short Panel Vector Autoregressions with Unit Roots and Cointegration ,"
Computing in Economics and Finance 2001
36, Society for Computational Economics.
[Downloadable!] Michael Binder & Cheng Hsiao & M. Hashem Pesaran, 2000.
"Estimation and Inference in Short Panel Vector Autoregressions with Unit Roots and Cointegration ,"
Banco de España Working Papers
0005, Banco de España.
Binder, Michael & Hsiao, Cheng & Pesaran, M. Hashem, 2005.
"Estimation And Inference In Short Panel Vector Autoregressions With Unit Roots And Cointegration ,"
Econometric Theory ,
Cambridge University Press, vol. 21(04), pages 795-837, August.
[Downloadable!] Shaffer, Sherrill, 1993.
"A Test of Competition in Canadian Banking ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 25(1), pages 49-61, February.
[Downloadable!] (restricted)
Other versions: Hansen, Lars Peter, 1982.
"Large Sample Properties of Generalized Method of Moments Estimators ,"
Econometrica ,
Econometric Society, vol. 50(4), pages 1029-54, July.
[Downloadable!] (restricted)
Molyneux, Philip & Thornton, John & Michael Llyod-Williams, D., 1996.
"Competition and market contestability in Japanese commercial banking ,"
Journal of Economics and Business ,
Elsevier, vol. 48(1), pages 33-45, February.
[Downloadable!] (restricted)
Bresnahan, Timothy F., 1982.
"The oligopoly solution concept is identified ,"
Economics Letters ,
Elsevier, vol. 10(1-2), pages 87-92.
[Downloadable!] (restricted)
Frank Windmeijer, 2000.
"A finite sample correction for the variance of linear two-step GMM estimators ,"
IFS Working Papers
W00/19, Institute for Fiscal Studies.
[Downloadable!]
Semih Yildirim & George C. Philippatos, 2003.
"Competition And Contestability In Central And Eastern European Banking Markets ,"
Finance
0310004, EconWPA.
[Downloadable!]
Steen, Frode & Salvanes, Kjell G., 1999.
"Testing for market power using a dynamic oligopoly model ,"
International Journal of Industrial Organization ,
Elsevier, vol. 17(2), pages 147-177, February.
[Downloadable!] (restricted)
Other versions: Shaffer, Sherrill, 1999.
"The Competitive Impact of Disclosure Requirements in the Credit Card Industry ,"
Journal of Regulatory Economics ,
Springer, vol. 15(2), pages 183-98, March.
[Downloadable!] (restricted)
Steve Bond, 2002.
"Dynamic panel data models: a guide to microdata methods and practice ,"
CeMMAP working papers
CWP09/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
[Downloadable!]
Christos K. Staikouras & Anastasia Koutsomanoli-Fillipaki, 2006.
"Competition and Concentration in the New European Banking Landscape ,"
European Financial Management ,
Blackwell Publishing Ltd, vol. 12(3), pages 443-482.
[Downloadable!] (restricted)
Toolsema, Linda A., 2002.
"Competition in the Dutch consumer credit market ,"
Journal of Banking & Finance ,
Elsevier, vol. 26(11), pages 2215-2229, November.
[Downloadable!] (restricted)
Uchida, Hirofumi & Tsutsui, Yoshiro, 2005.
"Has competition in the Japanese banking sector improved? ,"
Journal of Banking & Finance ,
Elsevier, vol. 29(2), pages 419-439, February.
[Downloadable!] (restricted)
Other versions: Lau, Lawrence J., 1982.
"On identifying the degree of competitiveness from industry price and output data ,"
Economics Letters ,
Elsevier, vol. 10(1-2), pages 93-99.
[Downloadable!] (restricted)
Iwata, Gyoichi, 1974.
"Measurement of Conjectural Variations in Oligopoly ,"
Econometrica ,
Econometric Society, vol. 42(5), pages 947-66, September.
[Downloadable!] (restricted)
Blundell, Richard & Bond, Stephen, 1998.
"Initial conditions and moment restrictions in dynamic panel data models ,"
Journal of Econometrics ,
Elsevier, vol. 87(1), pages 115-143, August.
[Downloadable!] (restricted)
Other versions:
Richard Blundell & Steve Bond, 1995.
"Initial conditions and moment restrictions in dynamic panel data models ,"
IFS Working Papers
W95/17, Institute for Fiscal Studies.
Blundell, R. & Bond, S., 1995.
"Initial Conditions and Moment Restrictions in Dynamic Panel Data Models ,"
Economics Papers
104, Economics Group, Nuffield College, University of Oxford.
R Blundell & Steven Bond, .
"Initial conditions and moment restrictions in dynamic panel data model ,"
Economics Papers
W14&104., Economics Group, Nuffield College, University of Oxford.
[Downloadable!]
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Sophocles N. Brissimis & Manthos D. Delis, 2009.
"Bank-Level Estimates of Market Power ,"
Working Papers
93, Bank of Greece.
[Downloadable!]
Delis, Manthos D, 2008.
"Competitive conditions in the Central and Eastern European banking systems ,"
MPRA Paper
13890, University Library of Munich, Germany.
[Downloadable!]
Access and
download statistics Did you know? IDEAS is not the only service displaying RePEc data. Choose on RePEc which service fits your needs best.
This page was last updated on 2009-11-22.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .