This paper tests for the presence of market power in the Italian banking industry during the period 1971 1996 by using a simultaneous-equation model. In spite of growing consolidation, which occurred particularly in the latter years, the empirical findings rule out the possibility that the market is characterised by a joint monopoly, and appear to support the view that the conduct of the Italian banks is becoming more competitive as a consequence of the European integration process. These results, therefore, also constitute a counter argument to the idea that high concentration prevents substantial competition amongst firms.

The degree of competition in the Italian banking industry

COCCORESE, Paolo
1998

Abstract

This paper tests for the presence of market power in the Italian banking industry during the period 1971 1996 by using a simultaneous-equation model. In spite of growing consolidation, which occurred particularly in the latter years, the empirical findings rule out the possibility that the market is characterised by a joint monopoly, and appear to support the view that the conduct of the Italian banks is becoming more competitive as a consequence of the European integration process. These results, therefore, also constitute a counter argument to the idea that high concentration prevents substantial competition amongst firms.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11386/1063007
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