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Competition in the Mexican bank retail time deposit industry .

机译：墨西哥银行零售定期存款行业的竞争。

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摘要

This dissertation examines empirically several features of the commercial banking market in Mexico using detailed time deposit data.;The first chapter measures market power exerted by banks in the time deposit market. I develop a model for depositor demand that treats deposit accounts at competing banks as differentiated products. I also model the supply side decisions of banks. In particular, I model the strategic pricing of deposits (interest rate setting) under different oligopolistic behavioral assumptions taking into account that banks are multi-product firms. I obtain interest rate-cost margins implied by each behavioral assumption. I then compare these estimated margins to observed margins using bank balance sheet and income statement data. I find that depositors value bank characteristics like number of branches, employees per branch, and geographic coverage when choosing a product. Also, consistent with common perception, I find that banks have considerable market power in this market. However, throughout time this market power has decreased.;The second chapter analyzes the pricing decisions by banks. While the first chapter analyzes the pricing of deposits of different maturity, here the focus is on deposits with the same maturity but different investment amounts. Thus, the analysis is on the interest rate schedules (curves) across deposit sizes. I measure the effect of competition on the ability of banks to discriminate among consumers segments. Competition is measured using two alternatives, first as number of banks, and second, the number of rival branches a bank faces in the local market. I find that increased competition raises the interest rates paid by banks for all sizes but the increase is proportionally bigger for larger deposits making the schedules more convex. Also, the effects of competition varies depending on whether the market is large or small. In particular, effects are more important in smaller markets.;The third chapter first establishes the presence of significant interest rate dispersion, even after controlling for bank, market, deposit size and time specific effects. Then the chapter examines the association between interest rate dispersion and market structure. I find that, contrary to what monopolistic competition models predict, interest rate dispersion increases when competition increases. Finally the chapter develops possible explanations for this association.
机译：本文利用详细的定期存款数据，实证研究了墨西哥商业银行市场的几个特征。第一章衡量了银行在定期存款市场中的市场支配力。我开发了一个针对存款人需求的模型，该模型将竞争银行的存款帐户视为差异化产品。我还为银行的供应方决策建模。特别是，我在考虑银行是多产品公司的情况下，在不同的寡头行为假设下对存款的战略定价（利率设定）建模。我获得了每种行为假设所隐含的利率成本边际。然后，我使用银行资产负债表和损益表数据将这些估计的利润率与观察到的利润率进行比较。我发现，储户在选择产品时会重视银行的特征，例如分支机构的数量，每个分支机构的雇员以及地理覆盖范围。另外，与普遍的看法一致，我发现银行在这个市场中具有相当大的市场力量。但是，随着时间的流逝，这种市场力量逐渐减弱。第二章分析了银行的定价决策。尽管第一章分析了不同期限的存款的定价，但这里的重点是期限相同但投资金额不同的存款。因此，分析是针对不同存款规模的利率表（曲线）。我测量了竞争对银行区分消费者群体能力的影响。竞争通过两种选择来衡量，一种是银行数量，其次是银行在本地市场上面对的竞争对手分支机构的数量。我发现竞争加剧会提高所有规模的银行支付的利率，但对于较大的存款而言，该增长成比例地增加，从而使时间表更加凸显。而且，竞争的影响取决于市场的大小。尤其是在较小的市场中，影响更为重要。第三章首先确定了即使在控制了银行，市场，存款规模和特定时间影响之后，存在显着的利率分散。然后，本章研究了利率分散与市场结构之间的关系。我发现，与垄断竞争模型所预测的相反，当竞争加剧时，利率离散度也会增加。最后，本章为这种关联提出了可能的解释。

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  • 作者

    Mier-y-Teran-Romero, Ana.;

  • 作者单位

    Boston University.;

  • 授予单位 Boston University.;
  • 学科 Economics General.;Business Administration Banking.
  • 学位 Ph.D.
  • 年度 2009
  • 页码 132 p.
  • 总页数 132
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;金融、银行;
  • 关键词

  • 入库时间 2022-08-17 11:38:30

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