Resolving Conflicts in Measuring Banking System Competitiveness – MNB Banking System Competitiveness Index

Péter Asztalos (), Gábor Horváth (), Štefan Krakovský () and Tamás Tóth ()
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Péter Asztalos: Magyar Nemzeti Bank
Gábor Horváth: Magyar Nemzeti Bank
Štefan Krakovský: Magyar Nemzeti Bank
Tamás Tóth: Magyar Nemzeti Bank

Financial and Economic Review, 2017, vol. 16, issue 3, 5–31

Abstract: The competitiveness of a national economy structurally depends on the efficiency and quality of financial intermediation, which is in a close relationship with the competitiveness of the banking system. In our opinion, banking system competitiveness can best be captured through the sustained supportive role of the banking system in economic growth, which in practice is implemented through the efficient allocation of financial resources. In the course of our research we developed an index designed to measure the competitiveness of European banking systems which, in our understanding, is the first of its kind. It models competitiveness from two different or even conflicting perspectives – from the consumer and from the investor side alike – and synthesizes the results received. Our analysis points out that the Hungarian banking system lags significantly behind its peers with respect to the price-setting of loans to households, digitalisation and operational efficiency, and presents the sources of competitive advantage in national economies with a competitive banking system in place.

Keywords: finance; capital attractiveness; stability; growth; competitiveness (search for similar items in EconPapers)
JEL-codes: E44 E51 O40 (search for similar items in EconPapers)
Date: 2017
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