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Competencia Versus Poder De Monopolio En La Banca Española

Listed author(s):
  • Francisco Pérez García


    (Instituto Valenciano de Investigaciones Económicas)

  • Joaquín Maudos Villarroya

    (Instituto Valenciano de Investigaciones Económicas)

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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File Function: Fisrt version / Primera version, 2001
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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
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:2001-09
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