<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2012000400865</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Competencia en el sector bancario chileno. Una aproximación dinámica]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Flores]]></surname>
<given-names><![CDATA[Yarela]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Watts]]></surname>
<given-names><![CDATA[David]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Pontificia Universidad Catolica de Chile  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Chile</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,University of Wisconsin  ]]></institution>
<addr-line><![CDATA[Madison ]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2012</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2012</year>
</pub-date>
<volume>79</volume>
<numero>316</numero>
<fpage>865</fpage>
<lpage>903</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2012000400865&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2012000400865&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2012000400865&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: La América Latina enfrenta una creciente concentración de la propiedad en el sector bancario, situación que preocupa a la población y los medios por su eventual efecto en la competencia, en el acceso a crédito a tasas competitivas, así como en el desarrollo económico y social. Este artículo realiza una breve revisión de la bibliografía de la competencia bancaria latinoamericana, para luego estudiar el poder de mercado en el mercado bancario chileno. Utilizando una novedosa reformulación dinámica del modelo estático del parámetro de comportamiento, concluimos que las relaciones intertemporales en la oferta y la demanda de crédito son muy im portantes, por lo que el uso de modelos estáticos para medir la competencia sería inadecuado y entregaría parámetros sesgados. Finalmente, se estima que los bancos chilenos ejercen un poder de mercado significativo, particularmente en el largo plazo, similar a un equilibrio de Cournot simétrico de 40 bancos, como se tenía a principios de los años noventa del siglo pasado.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: Latin America faces a growing concentration of banking markets, situation that worries both the public and the media for its potential impact on competition, access to credit at competitive rates, and thus the potential impact on its economic and social development. This paper provides a brief literature review of banking competition in Latin American, and then assesses market power in the Chilean banking market. Using a novel dynamic reformulation of the static conduct pa rameter model, we conclude that intertemporal relationships in the supply and demand for credit are very important, so that the use of static models to measure competition would be misleading, delivering biased parameters' estimates. Finally, it is estimated that Chilean banks exert significant market power, especially in the long run, similar to a symmetric Cournot equilibrium of 40 banks, as the market had in the early 90's.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[poder de mercado]]></kwd>
<kwd lng="es"><![CDATA[método del parámetro de comportamiento]]></kwd>
<kwd lng="es"><![CDATA[industria bancaria]]></kwd>
<kwd lng="es"><![CDATA[modelo de corrección de errores]]></kwd>
<kwd lng="es"><![CDATA[cointegración]]></kwd>
<kwd lng="es"><![CDATA[concentración]]></kwd>
<kwd lng="es"><![CDATA[competencia]]></kwd>
<kwd lng="es"><![CDATA[variación conjetural]]></kwd>
</kwd-group>
</article-meta>
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