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The Failure of Price Competition In The Turkish Credit Card Market

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Author Info
Akin, Guzin Gulsun
Aysan, Ahmet Faruk
Kara , Gazi Ishak
Yildiran , Levent

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Abstract

The failure of competition and the consequent high and sticky interest rates in credit card markets have been the subject of a considerable amount of debate and research lately. This paper presents the first regression testing for the existence of price competition in a credit card market to be estimated free of dynamic panel bias using recent quarterly data from Turkey. The estimation reveals that even though the effect of the cost of funds on credit card rates is statistically significant, it is very weak. The paper thus provides empirical evidence for the failure of price competition in the Turkish credit card market.

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File URL: http://mpra.ub.uni-muenchen.de/17770/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17770.

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Date of creation: 2008
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Handle: RePEc:pra:mprapa:17770

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Related research
Keywords: Credit Cards; Price Competition; System GMM; Banking;

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Find related papers by JEL classification:
G2 - Financial Economics - - Financial Institutions and Services
D4 - Microeconomics - - Market Structure and Pricing
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
D14 - Microeconomics - - Household Behavior - - - Personal Finance

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  1. Ausubel, Lawrence M, 1991. "The Failure of Competition in the Credit Card Market," American Economic Review, American Economic Association, vol. 81(1), pages 50-81, March.
  2. Aysan, Ahmet Faruk & Müslim, Nusret Ahmet, 2006. "The Failure of Competition in the Credit Card Market in Turkey: The New Empirical Evidence," MPRA Paper 5483, University Library of Munich, Germany. [Downloadable!]
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  3. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June. [Downloadable!] (restricted)
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