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Competencia En El Mercado Español De Créditos Bancarios: Un Modelo De Variaciones Conjeturales

Author

Listed:
  • Francisco J. Mas

    () (Universidad de Alicante)

  • Antonio Ladrón de Guevara Martínez

    (Universitat Pompeu Fabra)

  • Felipe Ruiz Moreno

    (Universidad de Alicante)

Abstract

The main objective of this work is to propose an oligopolistic competition model thatincorporates product differentiation through quality of service in the Spanish bank loansmarket. This model allows us to detect the competitive behavior patterns in terms of the outputof all the financial entities with respect to three strategic groups defined in terms of size. Thismodel of competitive interactions is tested with a sample of 100 firms in the Spanish bank loanmarket between 1992 and 1994. This period of time is characterized by both, the end of a longprocess of deregulation and the integration of the Spanish Banking System in the EuropeanBanking System. The findings evidence a stronger aggressiveness from the larger-size groupwhen the medium and smaller-size groups increase their output. Besides, the results detect anaggressive conduct between the entities within the larger-size group. El objetivo de este trabajo consiste en proponer un modelo de competencia oligopolísticacon diferenciación de producto vía calidad de servicio en el mercado de créditos bancarios, elcual permite detectar el patrón de conducta competitiva del output (variaciones conjeturales anivel de cantidades de créditos vendidos) para todas y cada una de las entidades financierasrespecto de cada uno de los grupos estratégicos definidos por tamaño. Este modelo deinteracciones competitivas es contrastado con 100 entidades del mercado español de créditosbancarios entre 1992 y 1994, período temporal que marca la culminación de un proceso dedesregulación e integración europea del sistema bancario español y que incide directamente enla competencia en términos de cantidades de créditos vendidos. Los resultados obtenidosevidencian que el grupo de entidades de mayor tamaño tiene una actitud agresiva ante unaumento del output de los grupos de entidades pequeñas y medianas. Además, se detecta unaconducta agresiva entre las entidades del grupo de mayor tamaño.

Suggested Citation

  • Francisco J. Mas & Antonio Ladrón de Guevara Martínez & Felipe Ruiz Moreno, 2006. "Competencia En El Mercado Español De Créditos Bancarios: Un Modelo De Variaciones Conjeturales," Working Papers. Serie EC 2006-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  • Handle: RePEc:ivi:wpasec:2006-07
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    Keywords

    Variación Conjetural; Comportamiento Competitivo; Grupos Estratégicos; Banking; Competition; Strategic Groups.;

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