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Spatial Competition and Market Power in Banking

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  • Richards, Timothy J.
  • Acharya, Ram N.
  • Kagan, Albert

Abstract

Banks in non-metropolitan areas compete in a spatially-differentiated environment. Particularly with the advent of electronic banking services, however, there is some question as to how much market power is conferred by spatial separation from rivals. This paper estimates a structural model of the supply and demand of banking services in which pricing power is allowed to depend explicitly on the distance between rival banks. A spatial autoregressive econometric model shows that approximately 38.0% of economic surplus earned by firms in non-metropolitan banking in the upper midwest is due to spatial market power.

Suggested Citation

  • Richards, Timothy J. & Acharya, Ram N. & Kagan, Albert, 2007. "Spatial Competition and Market Power in Banking," 2007 1st Forum, February 15-17, 2007, Innsbruck, Austria 6566, International European Forum on System Dynamics and Innovation in Food Networks.
    • Handle: RePEc:ags:iefi07:6566
    DOI: 10.22004/ag.econ.6566
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    6. Firgo, Matthias & Kügler, Agnes, 2014. "Detecting Collusion in Spatially Differentiated Markets," Department of Economics Working Paper Series 188, WU Vienna University of Economics and Business.
    7. David VanHoose, 2013. "Implications of Shifting Retail Market Shares for Loan Monitoring in a Dominant-Bank Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(3), pages 291-316, July.
    8. Acharya, Ram N. & Kagan, Albert & Richards, Timothy J., 2006. "Profitability and Long-term Survival of Community Banks: Evidence from Texas," 2006 Annual meeting, July 23-26, Long Beach, CA 21453, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Hajime Seya & Kay W. Axhausen & Makoto Chikaraishi, 2020. "Spatial unconditional quantile regression: application to Japanese parking price data," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(2), pages 351-402, October.
    10. Coccorese, Paolo & Pellecchia, Alfonso, 2013. "Multimarket contact, competition and pricing in banking," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 187-214.
    11. Wicaksono, Ahmad Tibrizi Soni, 2022. "Islamic Bank Deposits during COVID-19 Pandemic: A Spatial Finance Approach," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 56(1), pages 135-149.
    12. Acedański, Jan & Karkowska, Renata, 2022. "Instability spillovers in the banking sector: A spatial econometrics approach," The North American Journal of Economics and Finance, Elsevier, vol. 61(C).
    13. Lin Tian & Liang Han, 2019. "How local is local? Evidence from bank competition and corporate innovation in U.S," Review of Quantitative Finance and Accounting, Springer, vol. 52(1), pages 289-324, January.
    14. Laird, James J. & Mackie, Peter J., 2014. "Wider economic benefits of transport schemes in remote rural areas," Research in Transportation Economics, Elsevier, vol. 47(C), pages 92-102.

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    More about this item

    Keywords

    Community/Rural/Urban Development; Financial Economics;

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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