Publication: Oligopolio y competencia en la banca española del siglo XX: concentración económica y movilidad intra-industrial, 1922-1995
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2003
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Marcial Pons : Centro de Estudios Políticos : Fundación Caja Madrid
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La banca española se ha considerado tradicionalmente como una industria
sujeta a comportamientos oligopolistas. Incluso se le ha llegado a tratar como
un cartel, que se ha mantenido a lo largo del siglo XX con el apoyo del Estado.
En este artículo se revisa esta interpretación con la ayuda de un conjunto
de indicadores del grado de competencia en un mercado: una serie anual
de concentración económica y otra de movilidad intra-industrial, así como
algunas cifras estimativas de la altura de las barreras de entrada. Los resultados
arrojan dudas sobre la tesis de la cartelizacíón de la banca. En concreto, se
defiende el carácter básicamente competitivo de la industria bancaria antes
de la guerra civil y se pone en duda que la gran banca saliera incólume del
statu quo del franquismo.
Spanish banking has been considered as an industry ruled by oligopolistic conducts. It has been even dealt as a cartel, which has been able to keep along XX century with the support of the State. This paper checks this interpretation with the aid of a set of indexes of the degree of competiton in a market: an annual series of economic concentration and another one of intra-industrial turnover, as well as some proxi figures of the height of the barriers to entry. Doubts about the thesis of the banking cartelization are yielded by our resuhs. To be precise, the competitive nature of the Spanish batiking industry is defended, at least for the time before the civil war, and it is questioned that big banks emerged unharmed from the statu quo declared by Franco's goverments.
Spanish banking has been considered as an industry ruled by oligopolistic conducts. It has been even dealt as a cartel, which has been able to keep along XX century with the support of the State. This paper checks this interpretation with the aid of a set of indexes of the degree of competiton in a market: an annual series of economic concentration and another one of intra-industrial turnover, as well as some proxi figures of the height of the barriers to entry. Doubts about the thesis of the banking cartelization are yielded by our resuhs. To be precise, the competitive nature of the Spanish batiking industry is defended, at least for the time before the civil war, and it is questioned that big banks emerged unharmed from the statu quo declared by Franco's goverments.
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Editada en la Fundación SEPI
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Revista de Historia Económica Año XXI invierno 2003 n. 1 pp. 147--198