Title Italy : assessing competition and efficiency in the banking system / prepared by Paulo Drummond, Andrea M. Maechler, and Sandra Marcelino

Published [Washington, D.C.] : International Monetary Fund, 2007

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Description 1 online resource (42 pages) : illustrations Series IMF working paper ; WP/07/26. Contents Italy-Assessing Competition and Efficiency in the Banking System; A. Introduction and Key Findings; B. Consolidation and Concentration; Figures; 1. Banking Sector Size and per capita GDP, end-2003; 2. Banking Sector: Total Loans and Stock Market Capitalization, end-2004; Tables; 1. Evolution in Average Scale of Italian Banks on Consolidated Basis; 2. Selected Countries: Market Concentration Indicators; C. Contestability and Costs Indicators; 3. Foreign-Ownership in Banking Sector; 4. Selected Countries: Cost of Banking Services 3. Selected Countries: Concentration Indices, 1998 and 20044. Selected Countries: Top 50 Banks, 2004 Operating Revenues; 5. Top 50 Banks: Profitability Indicators, end-2004; 6. Top 50 Banks: Indicators of Efficiency, 2004; 5. ROE Decomposition, 1994-2004; D. Efficiency Estimates; 6. Selected Countries: Banks Coverage, 1998-2004; Boxes; 1. Data Source; E. Market Power; 2. Interpretation of H-statistic; F. Competition Policy and Financial Stability; 3. Competition and Stability: Key Findings of the Literature; 7. Selected Countries: Sample Statistics, 2004 8. Selected Countries: Panel Regression Results on Net Interest Margin Between Estimator with Weighted Least Squares9. Selected Countries: Panel Regression Results on Operating Profits to Total Assets Between Estimator with Weighted Least Squares; 10. Cross-Sectional Time-Series FGLS Regression (Dependent variable: operational income to total assets); 11. Cross-Sectional Time-Series FGLS Regression (Dependent variable: operational expenses to total assets); 12. Cross-Sectional Time-Series FGLS Regression (Dependent variable: operational profits to total assets) 13. Cross-Sectional Time-Series FGLS Regression (Dependent variable: operational expenses to total assets)14. Cross-Sectional Time-Series FGLS Regression (Dependent variable: operational expenses to total assets); 15. Selected Countries: Panzar-Rosse H-Statistics, 1998-2004 FGLS Regressions; References Summary The paper assesses the degree of banking competition and efficiency in Italy--over time as well as compared to that in other countries, such as France, Germany, Spain, the United Kingdom, and the United States. The paper finds competition in the Italian banking sector has intensified in loan and deposit markets in recent years, but banks still operate in a highcost, high-income system, particularly with respect to retail/services, and efficiency gains have yet to fully materialize. The degree of competition falls within the range of estimates for a set of comparator countries. Greater contestability should act as a powerful force to drive banks to become more competitive and efficient. Competition policy will also continue to be an important consideration, both in enforcing Italy's antitrust laws and in ensuring that the procedures for dealing with weak banks and other merger and acquisition reviews focus on stability and competition objectives Bibliography Includes bibliographical references (pages 37-42) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Banks and banking -- Italy Banks and banking -- Italy -- Econometric models Competition -- Italy Competition -- Italy -- Econometric models Banks and banking Banks and banking -- Econometric models Competition Competition -- Econometric models Economic history SUBJECT Italy -- Economic conditions -- Econometric models Subject Italy Form Electronic book Author Maechler, Andrea M., author. Marcelino, Sandra, author. International Monetary Fund. European Department. International Monetary Fund. Finance Department. International Monetary Fund. Monetary and Financial Systems Department. ISBN 1282547011 9781282547018

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