Banking competition in the Brazilian economy
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Redalyc
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| Natura: | Artículo científico |
| Lingua: | en |
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Universidade Federal de Minas Gerais
2017
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| _version_ | 1876467166044225536 |
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| author | José Angelo Divino |
| author_facet | José Angelo Divino |
| contents | Banking competition in the Brazilian economy José Angelo Divino Renan Said Silva Economía y Finanzas statistics panel data Banking sector market structure This paper applies the Panzar-Rosse model to assess the level of competition in the Brazilian banking sector. The sample covers 62 banks in the period from July 1994 to February 2012. Special attention is paid to the presence of scale variables in the regression, the existence of seasonal components in the financial time series, and the normalization of the price of banking inputs. The inclusion of scale variables in the model and the presence of seasonality in the data tend to erroneously indicate a competitive market structure. Contrary to the literature, in the seasonally-adjusted model without scale variables, the H-statistics indicates that banks in general and specific subgroups are non-competitive in the market. While large banks have high market power, public banks have intermediary market power, compatible with the various kinds of political interference in their management decisions. 2017 artículo científico 0103-6351 https://www.redalyc.org/articulo.oa?id=400454872002 https://www.redalyc.org/journal/4004/400454872002/ https://www.redalyc.org/journal/4004/400454872002/html/ https://www.redalyc.org/journal/4004/400454872002/400454872002.epub https://www.redalyc.org/journal/4004/400454872002/movil 10.1590/0103-6351/3094 en http://www.redalyc.org/revista.oa?id=4004 Nova Economia application/pdf Universidade Federal de Minas Gerais Nova Economia (Brasil) Num.3 Vol.27 |
| format | Artículo científico |
| id | redalyc_400454872002 |
| institution | Redalyc |
| language | en |
| publishDate | 2017 |
| publisher | Universidade Federal de Minas Gerais |
| spellingShingle | Banking competition in the Brazilian economy José Angelo Divino Economía y Finanzas statistics panel data Banking sector market structure Banking competition in the Brazilian economy José Angelo Divino Renan Said Silva Economía y Finanzas statistics panel data Banking sector market structure This paper applies the Panzar-Rosse model to assess the level of competition in the Brazilian banking sector. The sample covers 62 banks in the period from July 1994 to February 2012. Special attention is paid to the presence of scale variables in the regression, the existence of seasonal components in the financial time series, and the normalization of the price of banking inputs. The inclusion of scale variables in the model and the presence of seasonality in the data tend to erroneously indicate a competitive market structure. Contrary to the literature, in the seasonally-adjusted model without scale variables, the H-statistics indicates that banks in general and specific subgroups are non-competitive in the market. While large banks have high market power, public banks have intermediary market power, compatible with the various kinds of political interference in their management decisions. 2017 artículo científico 0103-6351 https://www.redalyc.org/articulo.oa?id=400454872002 https://www.redalyc.org/journal/4004/400454872002/ https://www.redalyc.org/journal/4004/400454872002/html/ https://www.redalyc.org/journal/4004/400454872002/400454872002.epub https://www.redalyc.org/journal/4004/400454872002/movil 10.1590/0103-6351/3094 en http://www.redalyc.org/revista.oa?id=4004 Nova Economia application/pdf Universidade Federal de Minas Gerais Nova Economia (Brasil) Num.3 Vol.27 |
| title | Banking competition in the Brazilian economy |
| topic | Economía y Finanzas statistics panel data Banking sector market structure |
| url | https://www.redalyc.org/articulo.oa?id=400454872002 https://www.redalyc.org/journal/4004/400454872002/ https://www.redalyc.org/journal/4004/400454872002/html/ https://www.redalyc.org/journal/4004/400454872002/400454872002.epub https://www.redalyc.org/journal/4004/400454872002/movil |