Banking conduct before the European single banking license: a cross-country comparison |
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| Affiliation: | 1. University at Buffalo, School of Nursing, Buffalo, NY, United States;2. University of Virginia, School of Nursing, Charlottesville, VA, United States;3. University of Virginia, Curry School of Education, Charlottesville, VA, United States |
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| Abstract: | This paper estimates conduct and excess capacity of the banking industry in 15 industrialized countries in North America, Europe, and Asia during 1979–91. Significant market power was found in five countries and excess capacity was indicated in one country. The estimates were consistent with either contestability or Cournot oligopoly in most of these countries, while five countries were significantly more competitive than Cournot. |
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