Financial stability and risk allocation under varying levels of competition

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dc.contributor.advisorFuentes San Martín, Rodrigo
dc.contributor.advisorRosende R., Francisco
dc.contributor.advisorTapia G., Matías
dc.contributor.authorJohnson Wander, Paul
dc.contributor.otherPontificia Universidad Católica de Chile. Instituto de Economía
dc.date.accessioned2016-05-13T19:29:43Z
dc.date.available2016-05-13T19:29:43Z
dc.date.issued2013
dc.descriptionTesis (Magíster en Economía)--Pontificia Universidad Católica de Chile, 2013
dc.description.abstractDeveloped countries vary widely in terms of levels of competition exhibited within the banking sector. This paper measures the empirical effects of competition on financial stability using the Lerner index as a proxy for competition. Theoretically, competition may influence the probability of a banking crisis via the charter value channel or the risk allocation channel, the latter of which provides an ambiguous result. Logit probability models show that competition may decrease stability, especially when deposits are guaranteed by government insurance programs, and when the non-bank financial sector is large. Risk allocation is shown to be negatively correlated with competition, a fact that supports the conclusion that the risk allocation channel is dominated by the notion that increased competition encourages risk taking at the bank level. Nonetheless, the results should be tempered by the fact that the competition-stability relationship appears to depend greatly on other factors, including the regulatory system and non-bank competitors.
dc.format.extent30 hojas
dc.identifier.doi10.7764/tesisUC/ECO/14981
dc.identifier.urihttps://doi.org/10.7764/tesisUC/ECO/14981
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/14981
dc.information.autorucInstituto de Economía ; Fuentes San Martín, Rodrigo ; 0000-0001-9636-6290 ; 1003360
dc.information.autorucInstituto de Economía ; Rosende R., Francisco ; S/I ; 99981
dc.information.autorucInstituto de Economía ; Tapia G., Matías ; S/I ; 5298
dc.information.autorucInstituto de Economía ; Johnson Wander, Paul ; S/I ; 211338
dc.language.isoen
dc.nota.accesoContenido completo
dc.rightsacceso abierto
dc.subject.ddc330
dc.subject.deweyEconomíaes_ES
dc.subject.otherEstabilidad económicaes_ES
dc.subject.otherCompetencia económicaes_ES
dc.titleFinancial stability and risk allocation under varying levels of competitiones_ES
dc.typetesis de maestría
sipa.codpersvinculados1003360
sipa.codpersvinculados99981
sipa.codpersvinculados5298
sipa.codpersvinculados211338
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