Structure and Competition in the Uruguayan Banking Sector

Miguel Mello and Jorge Ponce

International Journal of the Economics of Business, 2022, vol. 29, issue 3, 271-300

Abstract: Using quarterly data for Uruguayan banks we find that this sector is a concentrated oligopoly that exhibits global economies of scale. Specific product economies of scale are statistically significant in households and corporate loans. There are economies of scope between varieties of loans, deposits in local currency and portfolio management. The credit market to households is the least competitive, behaving like a monopoly or under implicit collusion. The credit market to firms exhibits greater competition than that suggested by the structure of the market, especially in local currency. Overall, the results suggest that there exists room for development and increasing competition in the Uruguayan banking sector.

Date: 2022
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Working Paper: Structure and Competition in the Uruguayan Banking Sector (2019)
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DOI: 10.1080/13571516.2022.2106092

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