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Market structure, institutional framework and bank efficiency in ASEAN 5

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  • Chan, Sok-Gee
  • Koh, Eric H.Y.
  • Zainir, Fauzi
  • Yong, Chen-Chen

Abstract

This paper aims to examine the mediating role of institutional framework on the effect of market concentration towards bank efficiency in the ASEAN-5. We adopt a two-stage methodology using the Slack-Based Measures Data Envelopment Analysis and the system Generalized Method of Moments, and focus on the post-Asian Financial Crisis period which saw major banking consolidation in the region. Our findings are consistent with economic theory which suggests that higher bank concentration reduces the efficiency level of commercial banks. Nevertheless, better institutional framework – as proxied by greater foreign ownership, political stability and regulatory quality – plays a significant mediating role to improve bank efficiency level even when the banking industry is highly concentrated. This presents an important policy implication in light of the ongoing trend of banking consolidation which results in higher industry concentration.

Suggested Citation

  • Chan, Sok-Gee & Koh, Eric H.Y. & Zainir, Fauzi & Yong, Chen-Chen, 2015. "Market structure, institutional framework and bank efficiency in ASEAN 5," Journal of Economics and Business, Elsevier, vol. 82(C), pages 84-112.
    • Handle: RePEc:eee:jebusi:v:82:y:2015:i:c:p:84-112
    DOI: 10.1016/j.jeconbus.2015.07.002
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    More about this item

    Keywords

    Bank efficiency; Institutional framework; Bank concentration; Market structure; ASEAN-5; Data envelopment analysis;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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