Institutional shocks and competition in Portuguese commercial banking in the long run, 1960-2015

Luciano Amaral () and Filipa Santos Machado ()
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Luciano Amaral: Nova School of Business & Economics
Filipa Santos Machado: Collège d’Europe Bruges

No 18023, Working Papers from Economic History Society

Abstract: "The Portuguese economy passed through two massive institutional shocks in the period from 1960 to 2015: in 1975, with one of the largest nationalisation programmes ever in the Western world; and in the late-1980s, with one of the largest privatisation programmes ever in the world. We assess how these shocks affected competition in commercial banking through statistical tests of the Panzar-Rosse type. Interesting conclusions result, namely that the nationalisation period did not imply a reduction in competition and that the privatisation period might have meant a reduction in competition. We provide a few hypotheses to understand these counterintuitive results."

JEL-codes: N00 (search for similar items in EconPapers)
Date: 2018-04
New Economics Papers: this item is included in nep-his
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