Munich Personal RePEc Archive

Evolución del Poder de Mercado en los Servicios de Intermediación Financiera en Argentina

Otero, Karina V. (2008): Evolución del Poder de Mercado en los Servicios de Intermediación Financiera en Argentina. Published in: Ensayos Economicos No. 50 (March 2008): pp. 7-60.

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Abstract

The low depth of the Argentine financial system raises concerns about its potential for development, even under favorable macroeconomic expectations. Contributing to the analysis of this key industry, this paper develops a methodology to measure the evolution of market power of financial intermediaries in the Argentine market. The proposed alternative framework models the industry production, and takes into account the duality of the financial intermediation business. The structural model follows the guidelines of the New Empirical Industrial Organization (NEIO) and the discrete choice literature, adapting the analysis to the local industry. The paper finds evidence supporting the presence of market power in the financial intermediation industry, but also finds signs of increase in the level of competition.

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