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Banking stability, institutional quality, market concentration, competition and political conflict in MENA

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  • Elfeituri, Hatem

Abstract

This paper uses panel data analysis via GMM estimation to investigate a number of contemporary issues regarding whether MENA banks’ stability and profitability are affected by market power and market concentration. Additionally, it investigates political issues that took place in late 2010 and 2011, as well as whether the quality of institutional environment contributed to shaping the financial performance of MENA banks and their stability.A large sample of banks was selected for a period (1999-2016) that includes the recent Global Financial Crisis period and Arab conflict. Findings confirm that the quality of institutional variables plays a major role in explaining bank performance and stability. Furthermore, banks operating in more concentred markets are able to exercise their market power to obtain higher returns, confirming that less competition and higher concentration would lead to deterioration in banking stability. However, results show that banking stability and profitability would be safeguarded if those banks with higher market power operate in better environment with high regulatory quality, emphasising that regulatory quality should be carefully considered to ensure the stability of financial systems and the national economy as whole.

Suggested Citation

  • Elfeituri, Hatem, 2022. "Banking stability, institutional quality, market concentration, competition and political conflict in MENA," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 76(C).
  • Handle: RePEc:eee:intfin:v:76:y:2022:i:c:s1042443121001827
    DOI: 10.1016/j.intfin.2021.101476
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    More about this item

    Keywords

    MENA Banks; Structure Conduct Performance; Capital Structure; Competition; Stability; Regulation; MENA economies;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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