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Financial Liberalization and Competition in Banking: an Empirical Investigation

Author

Listed:
  • Ribon, S.
  • Yosha, O.

Abstract

We ask whether Israeli banks lost market power as a consequence of financial liberalization, despite the fact that the banking industry remained highly concentrated. We estimate a "monopoly power" conduct parameter and a "monopsony power" conducte parameter, jointly, for the non-indexed local currency loan and deposit markets, building on the method developed in Bresnahan (1982, 1989), Porter (1983), and Lee and Porter (1984).

Suggested Citation

  • Ribon, S. & Yosha, O., 1999. "Financial Liberalization and Competition in Banking: an Empirical Investigation," Papers 23-99, Tel Aviv.
  • Handle: RePEc:fth:teavfo:23-99
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    Citations

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    Cited by:

    1. Shrimal Perera & Michael Skully & J. Wickramanayake, 2006. "Competition and structure of South Asian banking: a revenue behaviour approach," Applied Financial Economics, Taylor & Francis Journals, vol. 16(11), pages 789-801.
    2. Nicola Cetorelli & Paolo Angelini, 1999. "Bank competition and regulatory reform: the case of the Italian banking industry," Working Paper Series WP-99-32, Federal Reserve Bank of Chicago.
    3. Mandelman, Federico S., 2010. "Business cycles and monetary regimes in emerging economies: A role for a monopolistic banking sector," Journal of International Economics, Elsevier, vol. 81(1), pages 122-138, May.
    4. 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).
    5. Fernandez de Guevara, Juan & Maudos, Joaquin & Perez, Francisco, 2007. "Integration and competition in the European financial markets," Journal of International Money and Finance, Elsevier, vol. 26(1), pages 26-45, February.
    6. J.A. Bikker, 2003. "Testing for imperfect competition on EU deposit and loan markets with Bresnahan's market power model," Research Series Supervision (discontinued) 52, Netherlands Central Bank, Directorate Supervision.
    7. Federico S. Mandelman, 2006. "Business cycles: a role for imperfect competition in the banking system," FRB Atlanta Working Paper 2006-21, Federal Reserve Bank of Atlanta.
    8. Rezitis, Anthony N., 2010. "Evaluating the state of competition of the Greek banking industry," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(1), pages 68-90, February.
    9. 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.

    More about this item

    Keywords

    BANKS ; COMPETITION ; MARKET STRUCTURE;

    JEL classification:

    • 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

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