چکیده:
Economic experts always refer to competition as a solution for economic growth and optimal use of economic resources.Over the past two decades, significant policy changes have taken place in the banking system, especially in emerging market economies, which have affected competition.The main purpose of this study is to evaluate the market monopoly power of banks during the years 2001 to 2020 based on the approach of conjectural changes.To measure monopoly power, the generalized model of Azam and Lopez (2002) was used and the equations of supply and demand of loans were tested using panel data using a two-stage least squares method with fixed effects.In order to estimate the selected model, macroeconomic variables and balance sheet data of 33 banks from the country's banking network have been used during the years 2001 to 2020. The obtained results indicate that during the mentioned period, the elasticity of conjectural changes is equal to- 0/976 and the approach of the mentioned number to -1 indicates the competitiveness of the banking industry. On the other hand, the market monopoly power index was -0/0386 and the market monopoly power in the country's banking system and the behavior based on cooperation between banks has also decreased.On the other hand, the findings of the study confirm that the price elasticity of demand for facilities in the period was equal to -0/4 and the imposition of banking sanctions by inefficient alternative markets, has made it more and more, which indicates a more inelastic demand for bank facilities that increase The market power of the banking industry.
خلاصه ماشینی:
Investigating Monopoly Power in the Iranian Banking Industry Using 1 the Elasticity of Guesswork Approach (During the period 2001-2020) Jafariosefi PhD student in Economics, Islamic Azad University of Miandoor, yosefij@yahoo.
One of the very important topics that in recent years 1 Ahmadian (2014) 2 Shamsian (2015) 3 Pazhoyan (2011) 4 Bananezhad (2018) has become the focus of industrial economics researchers interested in the banking sector, which is the analysis of the banking market structure, determining the degree of monopoly power in the market, and examining the intensity of the influence of internal and external factors on it.
In this regard, by differentiating the supply equation with respect to the concentration index, it is possible to separate the effects of market power and cost efficiency in this model as follows: (Refer to page image) h Based on relationship (9), changes in concentration affect price through two channels.
Table (4): Cointegration test of variables Hausman test RHO statistic in Random Effects model -6/791 (0/000) -16/69 (0/000) Panel-ADF -7/756 (0/000) -11/59 (0/000) Group-ADF Source: Research findings In the supply equation, after estimating the coefficients, it is possible to calculate the Lerner index, the degree of market power, and the behavioral parameter, and to calculate the effects of cost efficiency, market power, and the price markup resulting from changes in concentration in the Iranian banking industry sector.
Table (6): Results related to measuring market monopoly power and industry cost efficiency (Refer to the page image) Source: Research findings There is a positive and significant relationship between the Herfindahl-Hirschman Index and the profit margin during the period 1380-1399.
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