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Multimarket Competition in Banking With Application to Portugal
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Bank activities usually span over several markets and branches. The multi.location nature of the bank may originate equilibrium price dispersion. The implication of it for applied work of market power measurement in the banking industry are investigated. The aim of the paper is to evaluate how a spatial model can explain price differences across banks in the deposits market. Also of interest is the identification of a general pattern of conduct in the market, that is, how collusive is market equilibrium. An application to Portuguese commercial banking is reported. The results show a satisfactory performance of the spatial framework. As to conduct, Nash behavior for all banks and collusion among firms of the same economic group receive support from the data, although the evidence in favor of the first is stronger. Market-wide collusion is rejected as description of oligopolistic interaction.
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Barros, Pedro P., Multimarket Competition in Banking With Application to Portugal (February, 1994). FEUNL Working Paper Series No. 215