Market Concentration and Income Diversification: Do They Always Promote the Financial Stability of Banking Industry?

Resumen

En este artículo se analizan los efectos de la concentración de mercado y diversificación de ingresos sobre
la estabilidad financiera de la banca en el ámbito mundial. Usamos el estimador GMM de Arellano y Bover (1995) para una muestra de 206 países entre 1994 y 2015. Los resultados demuestran que la concentración de mercado y la diversificación de ingresos tienen un efecto positivo y no lineal sobre la estabilidad financiera; y negativo y no lineal sobre el riesgo. La no linealidad sugiere que sus efectos se reversan cuando
la industria bancaria tiene una elevada concentración y diversificación, observándose una industria menos estable y más riesgosa. La no linealidad establece valores umbrales que son relevantes para el diseño óptimo de políticas financieras y estrategias bancarias.

Palabras clave:

Estabilidad financiera Riesgo bancario Concentración de mercado Diversificación de ingresos

Citas

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