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Bank Competition in the Middle East and Northern Africa Region

Anzoategui, Diego; Martinez Peria, Maria Soledad; Rocha, Roberto
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
26.89%
This paper studies the extent of bank competition in the Middle East and Northern Africa region during 1994-2008, using non-structural measures of competition such as the H-statistic and the Lerner index. Both these measures suggest that banking sector competition in the region is lower relative to other regions and has not improved in recent years. An analysis of the determinants of competition across countries suggests that lower levels of competition in the Middle East and Northern Africa are explained by the region s worse credit information environment and lower market contestability.

Banking Sector Competition in Russia

Anzoategui, Diego; Martinez Peria, Maria Soledad; Melecky, Martin
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
26.89%
The Russian banking sector includes approximately 1,000 banks, but is it competitive? This paper analyzes bank competition in Russia during 2002-2008. The authors examine indicators of concentration and contestability, and compute non-structural measures of competition. They compare competition in Russia to that in Brazil, China, and India, and contrast competition across different groups of banks within Russia. Contestability in Russia is obstructed by uneven supervisory practices and an unclear exit process. Non-structural measures reveal that banks in Russia are less competitive than those in Brazil. Within Russia, large banks and state-owned banks exert more market power than the smaller and privately-owned institutions. Finally, business-oriented banks are more competitive than those concentrating on lending to individuals.

A Framework for Analyzing Competition in the Banking Sector : An Application to the Case of Jordan

Demirguc-Kunt, Asli; Martínez Pería, María Soledad
Fonte: Banco Mundial Publicador: Banco Mundial
Relevância na Pesquisa
16.58%
This paper proposes a framework to analyze competition in the banking sector using Jordan as an example. In particular, the paper pursues a multi-pronged approach to analyze competition including (i) an examination of the extent to which the market is contestable (that is, has low barriers to bank entry and exit), (b) an evaluation of the behavior of bank spreads, and (iii) an assessment of non-structural and direct measures of bank competition such as the H-statistic and the Lerner Index. This approach provides a more comprehensive framework to examine competition in the banking sector, compared with the commonly used alternative of looking only at bank concentration figures. In the case of Jordan, the analysis indicates that although concentration has declined, competition in the country is low and has decreased over time.

Trade in International Maritime Services : How Much Does Policy Matter?

Fink, Carsten; Mattoo, Carsten; Neagu, Ileana Cristina
Fonte: Washington, DC: World Bank Publicador: Washington, DC: World Bank
Tipo: Artigo de Revista Científica
EN_US
Relevância na Pesquisa
16.3%
Maritime transport costs significantly impede international trade. This article examines why these costs are so high in some countries and quantifies the importance of two explanations: restrictive trade policies and private anticompetitive practices. It finds that both matter, but the latter have a greater impact. Trade liberalization and the breakup of private carrier agreements would lead to an average of one-third lower liner transport prices and to cost savings of up to US dollar 3 billion on goods carried to the United States alone. The policy implications are clear: there is a need not only for further liberalization of government policy but also for strengthened international disciplines on restrictive business practices. The authors propose an approach to developing such disciplines in the current round of services negotiations at the World Trade Organization (WTO).

The Potential of Regional Power Sector Integration : Union for the Coordination of the Transmissions of Electricity, Developed Country Case Study

Economic Consulting Associates
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
16.48%
Developing countries are increasingly pursuing and benefitting from regional power system integration (RPSI) as an important strategy to help provide reliable, affordable electricity to their economies and citizens. Increased electricity cooperation and trade between countries can enhance energy security, bring economies-of-scale in investments, facilitate financing, enable greater renewable energy penetration, and allow synergistic sharing of complementary resources. This briefing note draws from the experiences of RPSI schemes around the world to present a set of findings to help address these challenges. It is based on case studies of 12 RPSI projects and how they are dealing with key aspects of RPSI, such as: (i) finding the right level of integration; (ii) optimizing investment on a regional basis; (iii) appropriate regional institutions (iv) technical and regulatory harmonization; (v) power sector reform and integration (vi) the role of donor agencies (vii) reducing emissions through RPSI; and (viii) RPSI and renewable energy.

The Relevance of Index Funds for Pension Investment in Equities

Shah, Ajay; Fernandes, Kshama
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
EN_US
Relevância na Pesquisa
16.3%
The rise of index funds over the past 25 years has been a remarkable phenomenon. The traditional rationale for the success of index funds is market efficiency, net of transaction costs. The authors also focus on the role of agency conflicts between fund managers and investors, which are hard to resolve, given the low power of statistical tests of performance. Most of the empirical evidence about the superiority of index funds comes from the United States. The authors discuss issues associated with the application of index funds in developing countries, as well as policy issues in the financial sector that affect the enabling market infrastructure for index funds. They also apply these ideas to thinking about the relevance of index funds for pension investment. The equity premium provides powerful motivation for equity investment by pension funds. Index funds make it possible to sidestep the complexities of forming contracts and monitoring institutions to govern fund managers. In developing countries that seek to use index funds in pension investment...

Transition, The First Ten Years : Analysis and Lessons for Eastern Europe and the Former Soviet Union

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Publications & Research :: Publication; Publications & Research :: Publication
ENGLISH; EN_US
Relevância na Pesquisa
16.3%
This study looks at lessons to be drawn from the ten-year experience of the transition countries in Eastern Europe and the former Soviet Union in the period 1991 to 2000. The World's Bank "world Development Report 1996: From Plan to Market" focused on the transition process during the first half of this period. It recognized that while initial conditions are critical, decisive and sustained reforms are important for recovery of growth and should be accompanied by social policies designed to protect the most vulnerable groups until growth takes hold. Many of the prescriptions of the 1996 World Development Report continue to be valid today. The present study confirms that while initial conditions were critical for explaining the output decline at the start of transition, the intensity of reform policies explains the variability in the recovery of output thereafter. Beyond this, important new lessons highlight some key tradeoffs facing countries in transition that can be translated into priorities for policy. First...

Financial Sector Assessment Program Update : Republic of Kazakhstan - Bank Profitability and Competition

International Monetary Fund; World Bank
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Economic & Sector Work :: Financial Sector Assessment Program (FSAP); Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
26.89%
The purpose of this note is to explore the reasons for a comparatively high interest rate spread in Kazakhstan in the context of competition in the banking sector. In spite of significant gains in efficiency made in recent years, operational costs and provisioning for loan losses remain high compared to some other economies. Profitability of the aggregate banking system has increased in the face of lower interest spreads. A highly concentrated banking system could be an indicator of lack of competition, but it needs to be assessed with contestability conditions (openness to entry of banks). The lack of license applications since 2001 raises questions about the attractiveness of entry by new banks. Competitive and market contestability conditions will be further enhanced with the authorities' continuation of strong macroeconomic and financial policies, improvements in financial sector regulation and enforcement thus continuing the achievements during the last five years. Administrative measures to control interest rates (for instance...

What Drives Bank Competition? Some International Evidence

Claessens, Stijn; Laeven, Luc
Fonte: World Bank, Washington, DC Publicador: World Bank, Washington, DC
Tipo: Publications & Research :: Policy Research Working Paper; Publications & Research
ENGLISH; EN_US
Relevância na Pesquisa
37.15%
Using bank-level data, the authors apply the Panzar and Rosse (1987) methodology to estimate the extent to which changes in input prices are reflected in revenues earned by specific banks in 50 countries' banking systems. They then relate this competitiveness measure to indicators of countries' banking system structures and regulatory regimes. The authors find systems with greater foreign bank entry and fewer entry and activity restrictions to be more competitive. They find no evidence that the competitiveness measure negatively relates to banking system concentration. Their findings confirm that contestability determines effective competition, especially by allowing (foreign) bank entry and reducing activity restrictions on banks.

Russian Federation - Export Diversification through Competition and Innovation : A Policy Agenda

World Bank
Fonte: Washington, DC Publicador: Washington, DC
Tipo: Economic & Sector Work :: Other Financial Sector Study; Economic & Sector Work
ENGLISH; EN_US
Relevância na Pesquisa
16.3%
Russia's exports became further dominated by petroleum and natural gas over the last decade. The sector experienced double-digit annual export growth in the last decade and represented almost 65 percent of Russia's exports value in 2009 a product of higher commodity prices and higher export volumes. Export growth rates of the non-oil and gas sector were also notable. Such industries as machinery, electronics, transportation equipment and chemicals reached a combined growth rate in export value of 10 percent in the last decade. This more positive comparison, however, hides relevant structural limitations in Russia's trade performance. Moreover, Russia's revealed comparative advantage seems concentrated in the 'periphery' of the product-space map, which may limit the potential for export diversification. This includes industries such as raw materials (26 products) and forestry (11 products) out of a total of 97 identified products. (At the center of the product-space are industries such as metallurgy, vehicles...