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Market-power versus cost-efficiency in Thailand's banking sector in the post-crisis period (1998–2011)

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  • Mahathanaseth, Itthipong
  • Tauer, Loren W.

Abstract

The degree of competition and effect of market concentration on interest rate margins in the banking sector of Thailand are estimated using the new empirical industrial organization model. We find that the collusive behavior and the market power of banks intensified during 2005–2011, after the East Asian financial crisis. Although the estimated benefit of scale economies resulting from increased concentration is statistically insignificant, its estimated impact would offset the unfavorable effect of higher market-power associated with higher concentration.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Asian Economics.

Volume (Year): 23 (2012)
Issue (Month): 5 ()
Pages: 499-506

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Handle: RePEc:eee:asieco:v:23:y:2012:i:5:p:499-506

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Web page: http://www.elsevier.com/locate/asieco

Related research

Keywords: Thailand; Bank competition; Bank concentration; Bank efficiency; New industrial organization model;

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  1. Azzam, Azzeddine M, 1997. "Measuring Market Power and Cost-Efficiency Effects of Industrial Concentration," Journal of Industrial Economics, Wiley Blackwell, vol. 45(4), pages 377-86, December.
  2. Bresnahan, Timothy F., 1982. "The oligopoly solution concept is identified," Economics Letters, Elsevier, vol. 10(1-2), pages 87-92.
  3. 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.
  4. Bikker, Jacob A. & Haaf, Katharina, 2002. "Competition, concentration and their relationship: An empirical analysis of the banking industry," Journal of Banking & Finance, Elsevier, vol. 26(11), pages 2191-2214, November.
  5. Yuan, Yuan, 2006. "The state of competition of the Chinese banking industry," Journal of Asian Economics, Elsevier, vol. 17(3), pages 519-534, June.
  6. Panzar, John C & Rosse, James N, 1987. "Testing for "Monopoly" Equilibrium," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 443-56, June.
  7. Kubo, Koji, 2006. "The Degree of Competition in the Thai Banking Industry before and after the East Asian Crisis," IDE Discussion Papers 56, Institute of Developing Economies, Japan External Trade Organization(JETRO).
  8. Shaffer, Sherrill, 1989. "Competition in the U.S. banking industry," Economics Letters, Elsevier, vol. 29(4), pages 321-323.
  9. Polsiri, Piruna & Wiwattanakantang, Yupana, 2006. "Corporate Governance of Banks in Thailand," CEI Working Paper Series 2005-20, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
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