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Author:Corvoisier, S.
Gropp, R.
Title:Bank concentration and retail interest rates
Journal:Journal of Banking and Finance
2002 : NOV, VOL. 26:11, p. 2155-2189
Index terms:Banking
Mergers
Retailing
Interest rates
Competition
Currency
European Monetary System
European Union
Freeterms:Concentration
EMU
EMS
Language:eng
Abstract:The recent wave of mergers in the euro area raises the question whether the increase in concentration has offset the increase in competition in European banking through deregulation. This paper tests this question by estimating a simple Cournot model of bank pricing. Country and product specific measures of bank concentration are constructed. It is found that for loans and demand deposits increasing concentration may have resulted in less competitive pricing by banks, whereas for savings and time deposits, the model is rejected, suggesting increases in contestability and/or efficiency in these markets.
SCIMA record nr: 239000
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