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Empirical analysis of the market structure of the Hungarian bank market

Varga, Szádoczkiné Veronika and Madari, Zoltán (2024) Empirical analysis of the market structure of the Hungarian bank market. Central European Journal of Operations Research . DOI 10.1007/s10100-024-00916-1

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Official URL: https://doi.org/10.1007/s10100-024-00916-1


Abstract

This paper analyzes the market structure of the Hungarian bank market and the effects of the financial crisis of 2008 on it. With a static and a dynamic panel model we estimate the elasticity of total revenues with respect to changes in input prices so that we can determine the market structure based on the Panzar and Rosse methodology for the period between 2003 and 2020. We test the input price elasticity according to the balance sheet and profit and loss data of the top 13 companies. The results show that the Hungarian bank market was a monopolistic competition or a monopoly market in long run equilibrium. To see the effects of the financial crisis we use three subsamples, furthermore we estimate and test the H-statistic with a fixed effect model. During the examined period the level of factor price elasticity increased in time.

Item Type:Article
Uncontrolled Keywords:Panzar and Rosse model ; Dynamic panel model ; Monopolistic competition ; Hungarian bank sector ; Financial crisis
Subjects:Finance
DOI:10.1007/s10100-024-00916-1
ID Code:9906
Deposited By: MTMT SWORD
Deposited On:13 May 2024 09:52
Last Modified:13 May 2024 09:52

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