Documentos de Trabajo
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Browsing Documentos de Trabajo by Author "Castro-Arias, Alejandro"
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- Margen intermediación financiera y poder de mercado en Costa RicaThis paper examines directly market power as a determinant of nancial intermediation margin for Costa Rican banks for the period 2000-2012. The study is based on a theoretical model of pro t maximization for a representative bank and within the main results is that the market power has been an important factor when banks determining interest rates. However, market power has decreased in time for state banks while it has increased for private banks. Therefore, despite of the nancial reforms carried out decades ago and the increased presence of international banks, the national banking sector has not achieved competitive equilibrium yet.