文章基本信息

标题：Deregulation and product differentiation in the banking industry
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作者：Ana Lozano-Vivas ; Antonio J. Morales
期刊名称：Banks and Bank Systems
印刷版ISSN：1816-7403
电子版ISSN：1991-7074
出版年度：2009
卷号：4
期号：4
页码：36-47
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：This paper analyzes the relationship between banking deregulation and product differentiation. We model banking competition by assuming both horizontal and vertical differentiation. The horizontal component is related to branching decisions whereas the vertical differentiation component is built-in to capture consumer’s satisfaction for dealing with particular bank types. We then perform an empirical analysis on the deregulation of the Spanish Banking System. We show that the direct channel from deregulation to competition successfully promoted competitive behavior among the different types of banking institutions in Spain. However,banks responded by exacerbating their differences in other dimensions,in particular in the loan market in favor of private banks. We finally estimate banks’ knowledge of demand equations and find out that private banks were more accurate than savings banks in estimating customers preferences. We hypothesize that this better knowledge has conferred private banks an advantage over savings banks for successfully differentiating private banks’ products.
关键词：deregulation;competition;banking industry;product differentiation;horizontal and vertical differentiation.