Análisis de las fusiones en el mercado bancario colombiano
Temas de Estabilidad Financiera ; No. 9
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Analiza el rol de las fusiones sobre eficiencia en beneficios y el poder de mercado. El análisis utiliza datos del sistema financiero colombiano para el período 1996-2004.
In recent years, different mergers have taken place both in the financial and manufacturing sectors. These processes have raised questions as to the policies implemented with regard to trade offs between profits via efficiency and those related to social costs, given the presence of greater market power. If profits due to efficiency surpass the resulting social losses as a result of increased market power, mergers then may be of interest from the economic and antitrust perspective. This analysis will look at mergers from different angles: first, mergers can improve cost efficiencies; second, they can improve the efficiency of benefits that involve combining raw materials and superior products , and third, they can provide greater price setting benefits by exercising market power. A greater concentration or participation of business enterprises within the market can provide the basis for intermediaries to establish higher rates for their goods or services, or to lower deposit rates without having efficiency improvements.