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Competencia Versus Poder De Monopolio En La Banca Española

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Author Info

  • Francisco Pérez García

    ()
    (Instituto Valenciano de Investigaciones Económicas)

  • Joaquín Maudos Villarroya

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

This paper analyses the degree of competition among banks and savings banks during the 1992-99 period using two industrial organisation tools: the Panzar and Rosse contrast (1987) and Lerner¿s estimation of indices. Panzar and Rosse¿s contrast does not allow to reject the monopolistic competition hypothesis neither of savings banks nor banks for the whole 1992-99 period. However, during the first years it is not possible to reject the perfect competition hypothesis of banks. Lerner¿s index shows differences in the monopoly power of savings banks and banks, being the power of savings banks greater. Its time evolution shows an increase in market power since 1996 which coincides with the rising phase of the economic cycle. Therefore, there is no favourable evidence of a growth hypotheses of the competition degree in the Spanish banking sector during the last years. Este trabajo analiza el grado de competencia de los bancos y cajas de ahorros españolas en el periodo 1992-99 utilizando para ello dos instrumentos de la organización industrial: el contraste de Panzar y Rosse (1987) y la estimación de índices de Lerner. El constraste de Panzar y Rosse no permite rechazar la hipótesis de competencia monopolista ni en cajas ni en bancos para el periodo completo 1992-99. No obstante, en los años iniciales no es posible rechazar la hipótesis de competencia perfecta en los bancos. El índice de Lerner muestra diferencias en el poder de monopolio de cajas y bancos, siendo mayor el de las cajas de ahorros. Su evolución en el tiempo muestra un aumento del poder de mercado a partir de 1996 coincidiendo con la fase alcista del ciclo económico. En consecuencia, no se obtiene evidencia favorable a la hipótesis de crecimiento del grado de competencia en el sector bancario español en los últimos años.

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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 2001-09.

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Length: 30 pages
Date of creation: Mar 2001
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:2001-09

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Related research

Keywords: competencia; poder de mercado; sector bancario Competition; market power; banking sector.;

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Cited by:
  1. Carbo Valverde, Santiago & Fernández de Guevara y Rodoselovics, Juan & Humphrey, David & Maudos, Joaquin, 2009. "Estimating the intensity of price and non-price competition in banking," MPRA Paper 17612, University Library of Munich, Germany, revised 2009.
  2. Maudos, Joaquin & Fernandez de Guevara, Juan, 2004. "Factors explaining the interest margin in the banking sectors of the European Union," Journal of Banking & Finance, Elsevier, vol. 28(9), pages 2259-2281, September.
  3. Juan Fernandez de Guevara & Joaquin Maudos, 2009. "Regional Financial Development and Bank Competition: Effects on Firms' Growth," Regional Studies, Taylor & Francis Journals, vol. 43(2), pages 211-228.
  4. Juan Ayuso & Jorge Martínez, 2006. "Assessing banking competition: an application to the Spanish market for (quality-changing) deposits," Banco de Espa�a Working Papers 0623, Banco de Espa�a.
  5. Francisco Pérez García & Joaquín Maudos Villarroya & Juan Francisco Fernández de Guevara Radoselovics, 2003. "Integration And Competition In The European Financial Markets," Working Papers. Serie EC 2003-12, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  6. Luis Gutiérrez de Rozas, 2007. "Testing for competition in the Spanish banking industry: The Panzar-Rosse approach revisited," Banco de Espa�a Working Papers 0726, Banco de Espa�a.
  7. Rebeca Juan, 2008. "Competition in Local Markets: Some Evidence from the Spanish Retail Banking Market," Review of Industrial Organization, Springer, vol. 32(2), pages 145-162, March.
  8. Juan Francisco Fernández de Guevara Radoselovics, 2003. "Evolución Del Margen De Intermediación En España: ¿Tipos De Intéres, Riesgo, Costes O Competencia?," Working Papers. Serie EC 2003-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  9. Amparo Nagore & Joaquín Maudos Villarroya, 2005. "Explaining Market Power Differences In Banking: A Cross-Country Study," Working Papers. Serie EC 2005-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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