Rivalidad por clientes en el mercado cambiario venezolano

Rivalry for customers in the Venezuelan exchange marke

Luis Pedauga, Julio Pineda and Miguel Dorta

MPRA Paper from University Library of Munich, Germany

Abstract: We try to establish which is the structure that best defines the venezuelan foreign exchange market. Asking ourselves whether there exist a group of agents able to exert market power. We assume that the flow of currency between banks follows a first order stochastic Markov process of first order, in which competition is understood as a dynamic process of rivalry for trading the largest volume of currency under free convertibility. We use daily aggregate currency flows across banks to estimate probabilities of transition, which can be interpreted as approximations to the degree of rivalry between banks. In addition competition for currencies transactions was studied in a dynamic way.

Keywords: Forex exchange; rivalry; markov chain (search for similar items in EconPapers)
JEL-codes: C01 F31 L1 (search for similar items in EconPapers)
Date: 2004-12
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Rivalidad por clientes en el mercado cambiario venezolano (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:62446

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