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    Title: 俄羅斯銀行業競爭程度之研究
    The analysis on the degree of competition in Russian banking industry
    Authors: 吳靜婷
    Contributors: 鄭士卿
    Jeng, Vivian
    吳靜婷
    Keywords: 俄羅斯銀行業
    銀行競爭
    Panzer and Rosse模型
    市場結構指標
    Date: 2011
    Issue Date: 2013-09-04 10:13:36 (UTC+8)
    Abstract: 本研究旨在衡量俄羅斯銀行業競爭程度的變化，探討2003至2010年間，其銀行行為、政府政策和國際情勢對俄羅斯銀行業競爭程度的影響。本研究以非結構法的Panzer-Rosse模型為研究主軸，並輔以結構性指標來衡量俄羅斯銀行業的競爭程度，發現俄羅斯銀行業在2003至2009年俄羅斯的銀行市場大多處於獨占性競爭。但是2010年以資產標準化的總收入為被解釋變數時卻無法拒絕市場存在獨占力或銀行間存在聯合勾結的寡占之需無假設，可能與俄羅斯政府因應全球金融危機所作的政策調整有關。
    為使結果更具可靠性，本研究排除可能影響檢定結果知極端值進行敏感性檢定，將可能對市場具有獨占力的俄羅斯最大的國有銀行Sberbank排除在樣本之外，結果2010年的俄羅斯銀行市場仍然存在獨占力。另外，考慮不同地區銀行密集度的不同，將研究樣本分成中央聯邦區與非中央聯邦區，結果發現在銀行密集度較高的中央聯邦區在2005至2009年為完全競爭，但是該地區2010年的銀行市場依然存在獨占力，而非中央聯邦區的競爭程度變化較小。相較於過去的文獻，本文發現俄羅斯銀行業在考慮利息收入與非利息收入之競爭程度有所不同，尤其在2008至2010年間的差異更為明顯，而俄羅斯銀行業的競爭程度在金融危機期間也確實因為採用的被解釋變數不同，致使兩者的H統計量與市場檢定結果呈現不一致的趨勢。
    This paper examines the degree of market competition in Russian banking industry by analyzing the impact of bank activity, government policy and international situation over the period of 2003-2010.We use the P-R model as well as concentration ratio and Herfindall-Hirschman Index to measure the competition in order to distinguish competitive behavior on market. Evidence is found that during the period of 2003-2009 the Russian banking industry is characterized as monopolistic competition. But in 2010, the market becomes monopolistic due to the change of government policy by global financial crisis.
    To do our sensitivity analysis, we exclude the outlier that might influence the results such as Sberbank, the biggest state bank of Russia. But our results remain the same. Furthermore, this paper separates the region into Central Federal District and non- Central Federal District, and we find that market is perfect competition in Central Federal District in period 2005-2009, but monopoly still exists in 2010. Compared with the previous literature, this paper finds that some differences exist between the results when dependent variable is interest revenue and the result of total revenue, especially in period of 2008-2010.
    Reference: 一、中文文獻
    1. 沈中華，2004，「貨幣銀行學原理─全球的觀點」，新陸書局。
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    二、英文文獻
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    20. Berglöf, Eric and Bolton, P., 2002, “The great divide and beyond: Financial architecture in transition,” Journal of Economic Perspectives 16(1): 77-100.
    21. Beck, T., 2004, “Financial System Development, Regulation and Economic Growth: Evidence from Russia,” The Journal of Banking and Finance, forthcoming.
    22. Berglöf, Eric, and Alexander Lehmann, 2008, "Sustaining Russia’s Growth: The Role of Financial Reform," Journal of Comparative Economics 37(2): 198-206.
    23. Berkowitz, Daniel, and David DeJong, 2010, "Growth in Post-Soviet Russia: A Tale of Two Transitions," Journal of Economic Behavior and Organization (forthcoming).
    24. Cetorelli, Nicola and Michele Gambera, 2001, “Banking Market Structure, Financial Dependence and Growth: International Evidence from Industry Data,” Journal of Finance 56: 617-648.
    25. Claessens, Stijn, Asli Demirgüc-Kunt and Harry Huizinga, 2001, “How Does Foreign Entry Affect Domestic Banking Markets?” Journal of Banking and Finance 25: 891-911.
    26. Corvoisier, S. and Gropp, R., 2002, “Bank Concentration and Retail Interest Rates,”Journal of Banking and Finance 26: 2155-89.
    27. Claessens, Stijn, and Luc Laeven, 2004, “What Drives Bank Competition? Some International Evi-dence,” Journal of Money, Credit and Banking 36(3): 563-583.
    28. Claessens, Stijn and Luc Laeven, 2005, “Financial Dependence, Banking Sector Competition and Economic Growth,” Journal of the European Economic Association 3(1): 179-207.
    29. Carbo-Valverde, Santiago, Francisco Rodriguez-Fernandez and Gregory Udell, 2009, “Bank Market Power and SME Financing Constraints,” Review of Finance 13(2): 309-340.
    30. Carbo-Valverde, Santiago, David Humphrey, Joaquin Maudos and Philip Molyneux, 2009, "Cross-Country Comparisons of Competition and Pricing Power in European Banking," Journal of International Money and Finance 28: 115-134.
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    32. De Bandt, O. and E. P. Davis, 2000, “Competition, Contestability and Market Structure in European Banking Sector on the Eva of EMU,” Journal of Banking and finance 24:1045-1066.
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    Description: 碩士
    國立政治大學
    俄羅斯研究所
    97263006
    100
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0972630061
    Data Type: thesis
    Appears in Collections:[Graduate Institute of Russian Studies] Theses

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