Measuring Competition of the Financial Securities Industry in Korea

• 발행기관: 한국유통과학회
• 저자명: Jae Hyun Gwon
• 간행물 정보: 『KODISA ICBE (International Conference on Business and Economics)』2016 International Conference on Business and Economics (ICBE 2016), 537~540쪽, 전체 4쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2016.06.30

영문 초록

Since the brokerage fee was liberalized in late 1990s, the competition in financial securities market is thought to be escalated. The traditional measure for competition such as HHI, however, seems to indicate that the market competition gets lowered contrarily. I apply the idea of Panzar and Rosse (1987) and Boone (2008) to meter how contestable the Korean financial securities market has been from 2002 to 2015. Unlike HHI, H-statistics by Panzar and Rosse (1987) demonstrates that the degree of competition has increased from "monopolistic competition" to "perfect competition." Yet Boone indicator does not provide useful prediction.

목차

Abstract

1. Introduction

2. Literature Review

3. Model and Analysis

4. Concluding Remarks

References

키워드

H-statistics Boone indicator competition contestability