Financial sector transparency, financial crises and market power: Across‐countryevidence
研究了2004-2014年间75个经济体中金融部门透明度如何调节金融危机对银行市场势力的影响，发现透明度会加剧金融危机削弱银行市场势力的效应。
Abstract The study investigates how financial sector transparency moderates the influence of financial crises on bank market power across 75 economies between 2004 and 2014. Using two‐step dynamic system generalized method of moments the study shows that while public sector‐led financial sector transparency reduces bank market power, private sector‐led financial sector transparency promotes bank market power given that private sector‐led transparency gives financial cost advantage to financially sound banks to solidify the market power and dominance. Similarly, while financial crises reduce the market power of banks implying that during financial crises banks lose their market power, financial sector transparency promotes the negative effect of financial crises on bank market power. This implies that during financial crises, financial sector transparency whether enforced through private or public sector, boosts the weakening effect of financial crises on bank market power. These findings imply that regulators can rely on financial transparency to tame bank market power to enhance banking competitiveness. The findings and results are consistent even when country, time and continental effects are controlled for.