Artículo

Estamos trabajando para incorporar este artículo al repositorio
Consulte el artículo en la página del editor
Consulte la política de Acceso Abierto del editor

Abstract:

The main motivation for prudential regulation is to increase the solvency of the banking sector. However, it is usually understood that tighter regulation also leads to more concentration and higher spreads. Thus, these prudential measures are seen as implying a trade-off between solvency and competition. In this paper we argue that this trade-off does not necessarily exist. We present a model in which tighter capital requirements lead banks to choose a lower degree of product differentiation, potentially inducing more intense competition and lower spreads. The model is motivated by the recent evolution of the Argentine banking sector. (C) 2000 Elsevier Science B.V. All rights reserve.

Registro:

Documento: Artículo
Título:Banking regulation and competition with product differentiation
Autor:Schargrodsky, E.; Sturzenegger, F.
Filiación:Escuela De Economía Empresarial, Universidad Torcuato Di Tella, Miñones 2177, 1428 Buenos Aires, Argentina
Palabras clave:Banking competition; Product differentiation; Regulation; banking; capital market; competition; regulatory approach
Año:2000
Volumen:63
Número:1
Página de inicio:85
Página de fin:111
DOI: http://dx.doi.org/10.1016/S0304-3878(00)00101-2
Título revista:Journal of Development Economics
Título revista abreviado:J. Dev. Econ.
ISSN:03043878
Registro:https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_03043878_v63_n1_p85_Schargrodsky

Referencias:

  • Ali, M., Greenbaum, S., A spatial model of the banking industry (1997) Journal of Finance, 32, pp. 1283-1287
  • Apt, J., Schargrodsky, E., (1996) Study of the Bolivian Banking Industry, , Mimeo, Harvard University
  • (1998) Banking System Report: Argentina, Published in BankWatch, , Banking System Report, March
  • (1997) Principales Caracteristicas del Marco Normativo del Sistema Financiero Argentino, , Mimeo
  • (1998) Resumen de las Principales Regulaciones del Sistema Financiero Argentino, , Mimeo
  • Bery, S., Garcia, V., Preventing banking sector distress and crises in Latin America (1996) World Bank Discussion Paper, No. 360
  • Besanko, D., Thakor, A., Banking deregulation: Allocational consequences of relaxing entry barriers (1992) Journal of Banking and Finance, 16, pp. 909-932
  • Bouckaert, J., Degryse, H., Phonebanking (1995) European Economic Review, 39, pp. 229-244
  • Brock, P., Rojas Suarez, L., (1998) Understanding the Behavior of Interest Rates and Bank Spreads in Latin America, , Mimeo, IDB
  • Burdisso, T., D'Amato, L., Molinari, A., Privatizacion de Bancos en Argentina: ?El Camino hacia una Banca mas Eficiente? (1998) Doc. de Trabajo No. 4, BCRA
  • Caprio G., Jr., (1998) Banking on Crisis: Expensive Lessons from Recent Financial Crises, , Mimeo, World Bank
  • Chiappori, P., Perez-Castrillo, D., Verdier, T., Spatial competition in the banking system: Localization, cross subsidies and the regulation of deposit rates (1995) European Economic Review, 39, pp. 889-918
  • Chighizola, H., (1998) The Financial System and the Mercosur in Perspective, , address given at World Economic Forum in Buenos Aires, July 1998
  • Cordella, T., Levy Yeyati, E., Financial opening, deposit insurance, and risk in a model of banking competition (1998) IMF Working Paper, , June
  • Degryse, H., On the interaction between vertical and horizontal product differentiation: An application to banking (1996) Journal of Industrial Economics, 44 (2), pp. 169-186
  • Dewatripont, M., Tirole, J., (1994) The Prudential Regulation of Banks, , MIT Press, Cambridge
  • Diamond, D., Dybvig, P., Bank runs, deposit insurance and liquidity (1983) Journal of Political Economy, 91, pp. 401-419
  • Dick, A., Ineficiencia X en la Banca Privada Argentina: Su Importancia respecto de las Economias de Escala y Economias de Produccion Conjunta (1996) Doc. de Trabajo No. 1, BCRA
  • Fernandez, R., Guidotti, P., (1994) Regulating the Banking Industry in Transition Economies: Exploring Interactions Between Capital and Reserve Requirements, , Mimeo, BCRA
  • Freixas, X., Rochet, J., (1997) Microeconomics of Banking, , MIT Press, Cambridge
  • Gertler, M., (1987) Financial Structure and Aggregate Economic Activity: An Overview, , Mimeo, University of Wisconsin
  • Gilbert, A., Bank market structure and competition (1984) Journal of Money, Credit and Banking, 16 (4), pp. 617-645
  • Goldstein, M., Turner, P., Banking crises in emerging economies: Origins and policy options (1996) BIS Economic Papers, No. 46, , October
  • Hellmann, T., Murdock, K., Stiglitz, J., (1998) Liberalization: Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?, , Mimeo, UADE
  • Matutes, C., Padilla, J., Shared ATM networks and banking competition (1994) European Economic Review, 38, pp. 1113-1138
  • Mishkin, F., (1986) The Economics of Money, Banking, and Financial Markets, , Little, Brown and Co., Boston
  • Mishkin, F., Bank consolidation: A central banker's perspective (1996) NBER Working Paper No. 5849
  • Powell, A., (1999) On Liquidity Requirements, Capital Controls and Risk Management: Some Theoretical Considerations and Practice from the Argentine Banking Sector, , Mimeo, BCRA
  • Rozenwurcel, G., Blejer, L., (1997) Argentina's Banking Sector in the Nineties: From Financial Deepening to Systemic Crises, , Serie Seminarios, ITDT and UTDT, August
  • Shaffer, S., (1993) Market Conduct and Excess Capacity in Banking: A Cross-Country Comparison, , Working Paper 93-28, Federal Reserve Bank of Philadelphia
  • Shaffer, S., Bank competition in concentrated markets (1994) Business Review, , March/April
  • Sturzenegger, F., Argentina's experience with capital flows in the 90's Capital Flows, Capital Controls, and Currency Crises: Latin America in the 1990's, , forthcoming; In: Larrain, F. (Ed.); University of Michigan Press
  • Yellen, J., (1995) Statement Before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Banking and Financial Services, pp. 1093-1102. , US House of Representatives, October 17; published in Federal Reserve Bulletin, December
  • Zahler, R., Budnevich, C., (1998) Integracion Financiera y Coordinacion Macroeconomica en el Mercosur, , Mimeo, Banco Central de Chile

Citas:

---------- APA ----------
Schargrodsky, E. & Sturzenegger, F. (2000) . Banking regulation and competition with product differentiation. Journal of Development Economics, 63(1), 85-111.
http://dx.doi.org/10.1016/S0304-3878(00)00101-2
---------- CHICAGO ----------
Schargrodsky, E., Sturzenegger, F. "Banking regulation and competition with product differentiation" . Journal of Development Economics 63, no. 1 (2000) : 85-111.
http://dx.doi.org/10.1016/S0304-3878(00)00101-2
---------- MLA ----------
Schargrodsky, E., Sturzenegger, F. "Banking regulation and competition with product differentiation" . Journal of Development Economics, vol. 63, no. 1, 2000, pp. 85-111.
http://dx.doi.org/10.1016/S0304-3878(00)00101-2
---------- VANCOUVER ----------
Schargrodsky, E., Sturzenegger, F. Banking regulation and competition with product differentiation. J. Dev. Econ. 2000;63(1):85-111.
http://dx.doi.org/10.1016/S0304-3878(00)00101-2