台灣銀行業在兩次金融改革期間的競爭與存、貸戶福利的變化

黃景沂; 莊晋祥

doi:10.6277/ter.2012.404.1

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P421 - 460

Social Sciences > Economics

DOI： 10.6277/NTUTER

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台灣銀行業在兩次金融改革期間的競爭與存、貸戶福利的變化

The Impact of Financial Reforms on Competition and Consumer Welfare in the Taiwan Banking Industry

黃景沂(Ching-I Huang) ；莊晋祥(Ching-Hsiang Chuang)

經濟論文叢刊； 40卷4期 (2012 / 12 / 01) ， P421 - 460

繁體中文 DOI： 10.6277/ter.2012.404.1

需求估計；消費者福利；異質產品；銀行業； demand estimation ； consumer welfare ； heterogeneous products ； banking

Abstract │ Reference (23) │ Times Cited (5) │ Altmetrics

Abstract 〈TOP〉

Parallel Abstract 〈TOP〉

This paper analyzes the effects of the two waves of financial reforms implemented between 2002 and 2008 in the Taiwan banking industry. The first financial reform aimed to raise capital adequacy ratios and reduce nonperforming loans. The second financial reform encouraged banks to merge. We investigate the impact of the reforms on market competition and consumers' welfare. Using a structural demand model for saving and borrowing in a differentiated market, we find that a bank's capital adequacy rate has a positive impact on the utility of both savers and borrowers. Contrarily, the ratio of non-performing loans has no significant effect. During these reform periods, market competition tended to decline while consumers' welfare dropped for both savers and borrowers. Nonetheless, when we use counterfactual experiments to isolate the direct effect of reform policies from other factors, we find that the first reform had almost no effect on market competition while raising both savers' and borrowers' welfare. On the other hand, the second reform reduced market competition, increased savers' welfare, but decreased borrowers' welfare.

Reference ( 23 ) 〈TOP〉

劉景中(2009)。銀行集中度、銀行市場競爭度與銀行風險─台灣實證研究。經濟論文，37(1)，101-135。
連結：
劉景中(2008)。銀行集中度與台灣銀行業的獲利性及風險。經濟論文叢刊，36(3)，327-355。
連結：
Molnar, J., Nagy, M., and Horvoth, C. (2006), "A structural empirical analysis of retail banking competition: The case of Hungary", URL: http://ssrn.com/abstract=961776, Magyar Nemzeti Bank, MNB working papers.
Adams, R. M.,Brevoort, K. P.,Kiser, E. K.(2007).Who competes with whom? The case of depository institutions.Journal of Industrial Economics,55,141-167.
Anderson, T. W.(1951).Estimating linear restrictions on regression coefficients for multivariate normal distributions.Annals of Mathematical Statistics,22,327-351.

Times Cited ( 5 ) 〈TOP〉

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