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Competition and Contestability in Canada's Financial System: Empirical Results

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Author Info
Alli Nathan
Edwin H. Neave
Abstract

This paper presents empirical assessments of the competitiveness in the Canadian banking, trust company, and mortgage company industries, which support the view that parts of Canada's financial system exhibit characteristics of contestability. Since asset concentrations in Canada's financial system do not seem to be decreasing, and since it has long been believed that financial industry concentration impairs competitiveness, making such assessments seems worthwhile. The authors use a nonstructural estimation technique to evaluate the elasticity of total revenues with respect to changes in input prices. The significantly positive values of the elasticity measure indicate that Canada's financial system does not exhibit monopoly power.

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Publisher Info
Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 22 (1989)
Issue (Month): 3 (August)
Pages: 576-94
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Handle: RePEc:cje:issued:v:22:y:1989:i:3:p:576-94

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  2. Sherrill Shaffer, 1996. "Capital requirements and rational discount window borrowing," Working Papers 96-4, Federal Reserve Bank of Philadelphia. [Downloadable!]
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  3. Jacob Bikker & Laura Spierdijk & Paul Finnie, 2006. "Misspecifiation of the Panzar-Rosse Model: Assessing Competition in the Banking Industry," DNB Working Papers 114, Netherlands Central Bank, Research Department. [Downloadable!]
  4. Natasa Koutsomanoli & Christos Staikouras, 2004. "Competition and Concentration," Money Macro and Finance (MMF) Research Group Conference 2004 26, Money Macro and Finance Research Group. [Downloadable!]
  5. Jacob A. Bikker & Laura Spierdijk & Paul Finnie, 2007. "The Impact of Market Structure, Contestability and Institutional Environment on Banking Competition," Working Papers 07-29, Utrecht School of Economics. [Downloadable!]
  6. Sherril Shaffer, 1997. "The winner's curse in banking," Working Papers 97-25, Federal Reserve Bank of Philadelphia. [Downloadable!]
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  7. Jacob A. Bikker & Laura Spierdijk & Paul Finniez, 2007. "Stock market performance and pension fund investment policy: rebalancing, free float, or market timing?," DNB Working Papers 156, Netherlands Central Bank, Research Department. [Downloadable!]
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  8. Pasadilla, Gloria & Milo, Melanie S., 2005. "Effect of Liberalization on Banking Competition," Discussion Papers DP 2005-03, Philippine Institute for Development Studies. [Downloadable!]
  9. Doris Neu Berger, 1998. "Industrial Organization of Banking: A Review," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 5(1), pages 97-118, February. [Downloadable!] (restricted)
  10. Vesala, Jukka, 1998. "Delivery Networks and Pricing Behaviour in Banking: An Empirical Investigation Using Finnish Data," Research Discussion Papers 18/1998, Bank of Finland. [Downloadable!]
  11. Carol Ann Northcott, 2004. "Competition in Banking: A Review of the Literature," Working Papers 04-24, Bank of Canada. [Downloadable!]
  12. Luis Gutiérrez de Rozas, 2007. "Testing for competition in the Spanish banking industry: The Panzar-Rosse approach revisited," Banco de España Working Papers 0726, Banco de España. [Downloadable!]
  13. J.A. Bikker & K. Haaf, 2001. "Competition, Concentration and their Relationship: an EmpiricalAnalysis of the Banking Industry," DNB Staff Reports (discontinued) 68, Netherlands Central Bank. [Downloadable!]
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  14. William C. Gruben & Robert P. McComb, 1999. "Privatization, competition, and supercompetition in the Mexican commercial banking system," Center for Latin America Working Papers 0199, Federal Reserve Bank of Dallas. [Downloadable!]
  15. Michael D. Bordo & Hugh Rockoff & Angela Redish, 1996. "A Comparison of the United States and Canadian Banking Systems in the Twentieth Century: Stability vs. Efficiency?," NBER Working Papers 4546, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  16. Liliana Solís & Joaquín Maudos Villarroya, 2007. "Deregulation, Liberalization And Consolidation Of The Mexican Banking System: Effects On Competition," Working Papers. Serie EC 2007-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  17. Claessens, Stijn & Laeven, Luc, 2005. "Financial dependence, banking sector competition, and economic growth," Policy Research Working Paper Series 3481, The World Bank. [Downloadable!]
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  18. Thorsten Fischer & David R. Kamerschen, 2003. "Measuring Competition in the U.S. Airline Industry Using the Rosse-Panzar Test and Cross-Sectional Regression Analyses," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 73-93, May. [Downloadable!]
  19. Sherrill Shaffer, 2002. "Conduct in a Banking Monopoly," Review of Industrial Organization, Springer, vol. 20(3), pages 221-238, May. [Downloadable!] (restricted)
  20. Doris Neuberger, 1997. "Structure, Conduct and Performance in Banking Markets," Thuenen-Series of Applied Economic Theory 12, University of Rostock, Institute of Economics, Germany. [Downloadable!]
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