Do Financial Reforms Foster Competition in The Financial Industry and Reduce the Interest-Rate Spread? A Study of the Costa Rican Experience

• 발행기관: KINFORMS
• 저자명: Miguel Rojas Sé bastien Deschê nes Philip Merrigan
• 간행물 정보: 『Management Review: An International Journal』Vol.14 No.2, 71~90쪽, 전체 20쪽
• 주제분류: 사회과학 > 사회과학일반
• 파일형태: PDF
• 발행일자: 2019.12.31

영문 초록

This article investigates if reforms of financial markets in Costa Rica have reduced the concentration of the financial industry and the interest-rate spread, two desirable outcomes of financial reforms. Our investigation shows that the concentration of the financial industry, measured by the Herfindhal-Hirschman index, fell notably after the conclusion of the reforms, suggesting an increased competition among financial institutions. Our research, however, does not support the view that the fall in concentration led to a reduction in the interest-rate spread. We provide explanations for the results and suggest avenues for future research.

목차

INTRODUCTION

LITERATURE REVIEW

METHODOLOGY

RESULTS

DISCUSSION

CONCLUDING REMARKS

ACKNOWLEDGEMENT

REFERENCES

키워드

Reform of financial markets concentration of financial markets interest-rate spread economic policy Costa Rica financial markets