haku: @indexterm Mexico / yhteensä: 241
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| Tekijä: | Gruben, W.C. McComb, R.P. |
| Otsikko: | Privatization, competition, and supercompetition in the Mexican commercial banking system |
| Lehti: | Journal of Banking and Finance
2003 : FEB, VOL 27:2, p. 229-249 |
| Asiasana: | Banking Competition Liberalization Privatization Finance Crises Mexico |
| Kieli: | eng |
| Tiivistelmä: | Much literature around the privatization of the commercial banking system of Mexico in 19911992 argued that the system was collusive and noncompetitive and would likely to be for years to come. Banks would collude to underloan so that they could overcharge. Because a parallel literature on lending after bank privatization suggests that the problem is often not too little, but too much, this study resolved to test for competitive behaviour in the Mexican banking system. Using an empirical approach a structural break is found in the middle of the privatization period signalling the start of an episode of what Shaffer calls "supercompetitive" behaviour. In such a supercompetition, banks run at levels of output where marginal cost exceeds marginal revenue. This behaviour is consistent with a struggle in which banks take losses now because they think the market share they get in the bargain offers a positive present value of expected future return. |
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