Productivity, competition and bank restructuring process
| Autor: | Vicente Salas-Fumás, Alfredo Martín‐Oliver, Vanesa Llorens |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Restructuring
media_common.quotation_subject Monetary economics lcsh:K4430-4675 lcsh:HD72-88 lcsh:Economic growth development planning Competition (economics) Interest rates Banks Order (exchange) 0502 economics and business Profit margin 050207 economics lcsh:Public finance Productivity media_common 040101 forestry 05 social sciences 04 agricultural and veterinary sciences Interest rate 0401 agriculture forestry and fisheries Intermediation Business General Economics Econometrics and Finance Public finance |
| Zdroj: | Zaguán. Repositorio Digital de la Universidad de Zaragoza instname Zaguán: Repositorio Digital de la Universidad de Zaragoza Universidad de Zaragoza SERIEs: Journal of the Spanish Economic Association, Vol 11, Iss 3, Pp 313-340 (2020) |
| Popis: | This paper analyzes how differences in productivity across banks and the evolution of industry productivity over time might determine the intermediation costs and the restructuring process of the banking industry in the Great Recession. With data of Spanish banks, we find that less productive banks are more likely to exit than more productive banks, and that surviving banks acquire target banks in order to expand their branch network in local markets where they are underrepresented. Competition among banks contributes to the translation of industry productivity growth into lower interest rates of loans. Nonetheless, we find that the industry profit margin in loans increases during the period because of the modest industry productivity growth and the lower intensity of competition from branch closing. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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