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Banking market power and its determinants: New insights from MENA countries

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  • Chaffai, Mohamed
  • Coccorese, Paolo

Abstract

This paper evaluates the degree and determinants of banks' market power in 13 MENA countries for the years 2000 to 2018, with a special focus on customers' switching costs and banks' cost efficiency. We find that MENA banks enjoy a substantial degree of market power on the loan market, while their customers have to face remarkable costs in case of switching to other banks. Banking market power increases with the level of switching costs and is higher when credit institutions are more cost efficient, focus on the traditional intermediation activity, are smaller in size, and operate in countries where stock markets are less developed, banking markets are more concentrated, the inflation rate is lower, and GDP growth is poor. Our results are robust to alternative specifications and estimation techniques.

Suggested Citation

  • Chaffai, Mohamed & Coccorese, Paolo, 2023. "Banking market power and its determinants: New insights from MENA countries," Emerging Markets Review, Elsevier, vol. 55(C).
    • Handle: RePEc:eee:ememar:v:55:y:2023:i:c:s1566014123000092
    DOI: 10.1016/j.ememar.2023.101004

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    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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