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Economías de Escala y Economías de Ámbito en el Sistema Bancario Chileno

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Author Info
Carlos Budnevich
Helmut Franken
Ricardo Paredes

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Abstract

Este estudio se focaliza en la eficiencia de costos del sistema bancario chileno. Se encuentra evidencia a favor de la existencia de economías de escala en bancos de tamaño pequeño y mediano, no así para los bancos grandes. La inexistencia de evidencia a favor de las economías de ámbito no respalda la creencia usual de que un supermercado financiero es necesariamente más eficiente. Con todo, las nulas o acotadas ganancias de eficiencia que se pueden obtener al aumentar la escala de producción o la composición de la canasta de productos ofrecida, son consistentes con una industria bancaria chilena operando eficientemente, en términos de costos, durante la década de los noventa. La principal fortaleza de este resultado es que se deriva de la estimación de una función de costos flexible, la cual no impone un sesgo hacia deseconomías de escala como es el caso de una función de costos translogarítmica. Además, nuestros resultados son robustos a distintas combinaciones de la canasta de servicios financieros que ofrecen los bancos. Finalmente, entre otros resultados, nuestro estudio respalda el argumento de que los bancos que mantuvieron deuda subordinada aumentaron su eficiencia, en términos de costos, una vez extinguida dicha obligación.

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Paper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 93.

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Date of creation: Apr 2001
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Handle: RePEc:chb:bcchwp:93

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This paper has been announced in the following NEP Reports: 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.:
  1. Levine, R., 2000. "Bank Concentration: Chile and International Comparisons," Papers 62, Cambridge - Risk, Information & Quantity Signals.
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  2. Pulley, Lawrence B & Braunstein, Yale M, 1992. "A Composite Cost Function for Multiproduct Firms with an Application to Economies of Scope in Banking," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 221-30, May. [Downloadable!] (restricted)
  3. Tachibanaki, Toshiaki & Mitsui, Kiyoshi & Kitagawa, Hiroshi, 1991. "Economies of scope and shareholding of banks in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 5(3), pages 261-281, September. [Downloadable!] (restricted)
  4. Mitchell, Karlyn & Onvural, Nur M, 1996. "Economies of Scale and Scope at Large Commercial Banks: Evidence from the Fourier Flexible Functional Form," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(2), pages 178-99, May. [Downloadable!] (restricted)
  5. Noulas, Athanasios G & Ray, Subhash C & Miller, Stephen M, 1990. "Returns to Scale and Input Substitution for Large U.S. Banks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 22(1), pages 94-108, February. [Downloadable!] (restricted)
  6. White, Halbert, 1980. "Using Least Squares to Approximate Unknown Regression Functions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(1), pages 149-70, February. [Downloadable!] (restricted)
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  1. Rodrigo Fuentes & Marcos Vergara, 2007. "Is Ownership Structure a Determinant of Bank Efficiency?," Working Papers Central Bank of Chile 456, Central Bank of Chile. [Downloadable!]
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