Determinantes da estrutura de mercado no setor bancário brasileiro - 1970-86

This article studies empirical1y the detenninants ofbanking market structure in Brazil along the period 1970-g"(j. The market structure is proxied by the Herfindahl index fordemand deposits, which was considered with reference to explanatory variables denoting efficiency, govemment regulation and the inflationary environment. In addition to the importance of the efficiency variable (average bank size), it must be pointed out the relevance of rate of inflation variable, what indicates that the banking market structure in Brazil was largely induced by factors outside the direct control of govemments authorities. Referencias bibliograficas AmeI, D. F. & Liang 1. N. Dynamics of market concentration in U.S. banking, 1966-86. International Journal of Industrial Organization, 8 (3), 1990. Bailey, D. & Boyle E. The optimal measure of concentration. Journal ofthe American Statistical Association, 66, 1971. Baltensperger, E. Economies of scale, fmn size and concentration in banking. Journal of Money, Credit and Banking, 4 (3), 1972. Boyes, W. J. & Smith, D. F. The optimal concentration measure: theory and evidence for Canadian manufacturing industries. Applied Economics, 11 (3),1979. Bresciani-Turroni, C. The economics of inflation: a study in currency depreciation in post-war Gennany. London, George A1len & Unwin, 1937. Castro, H. O. P. As causas economicas da concentracao bancaria. Rio de Janeiro, mMEC, 1981. Correa, V. P. Concentracao e lucratividade dos bancos. Dissertacao de mestrado. Brasilia, Universidade de Brasilia, 1985. Cysne, R. P. Monetary and real interest accounting. In: __ , ed. Financiai deepening in Brazil. London, Macmillan, 1990. Daly, H. E. A note on the pathological growth of the Uruguayan banking sector. Economic Development and Cultural Change, 15, 1967. Gilbert, R. A. Bank market structure and competition: a survey. Journal of Money, Credit and Banking, 16 (4), 1984. Harvey, A. TIme series models. Oxford, Philip Allan, 1981. Setor bancario brasileiro 221 Marques, N. S. F. A concentracao bancaria brasileira pos-1964. Dissertacao de mestrado. Recife, PimesfUFPE, 1982. __ . A concentracao do capital bancario no Brasil (1964-1984). Revista Brasileira de Mercado de Capitais, 11 (3), 1985~ Martinez, J. E. An empirical test of the impact of potential competition on banking structure. Ph.D thesis. Nonnam, University ofOldahoma, 1984. Moraes, P. L. B. Inflacao e o numero de intennediarios fmanceiros. Texto para discussao n. 204. Rio de Janeiro, PUCjRJ, 1988. Placone, D. L. The determinants of bank structure. Ph.D thesis. Pittsburgh, University of Pittsburgh, 1982. Porter, M. Competitive strategy, techniques for analysing industries and competition. New York, Free Press, 1980. Quintao, L. C. Analise estrutural da industria bancaria no Brasil 1985, 1986. Dissertacao de mestrado. Rio de Janeiro, CoppeadfUFRJ, 1987. Resende, M. Estrutura de mercado no setor bancario: determinantes e implicacoes sobre a politica monetaria. Dissertacao de mestrado. Rio de Janeiro, PUCjRJ, 1989. Sayad, J. Regulation of Brazilian commercial banks, Ph.D thesis. New Haven, Yale University, 1976. Srivastava, D. K. & Aggarwal, P. K. Measuring tax revenue centralization in federal fiscal systems: a case study ofIndia. Public Finance, 34(3),1979. Tavares, M. A. R. & Carvalheiro, N. O setor bancario brasileiro: alguns aspectos do crescimento e da concentracao. Sao Paulo, IPE/USP, 1985. Tavares, M. C. Da substituicao de importacoes ao capitalismo financeiro. Rio de Janeiro, Zahar, 1972. VanHoose, D. D. Bank market structure and monetary control. Journal of Money, Credit and Banking, 17 (3),1985.