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Bank Efficiency and Market Structure: What Determines Banking Spreads in Armenia?

Author/Editor: Dabla-Norris, Era | Floerkemeier, Holger
Authorized for Distribution: June 1, 2007
Electronic Access: Free Full Text (PDF file size is 433KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: Despite far-reaching banking sector reforms and a prolonged period of macroeconomic stability and strong economic growth, financial intermediation in Armenia has lagged behind other transition countries, and interest rate spreads have remained higher than in most Central and Eastern European transition countries. This paper examines the determinants of interest rate spreads and margins in Armenia using a bank-level panel dataset for the period 2002 to 2006. We find that bank-specific factors, such as bank size, liquidity, and market power, as well as the market structure within which banks operate, explain a large proportion of crossbank, cross-time variation in spreads and margins. The results suggest that there is a large potential to increase cost efficiency and competition in the banking system.
 
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Series: Working Paper No. 07/134
Subject(s): Armenia | Banking systems | Interest rates
Author's keyword(s): Banking System | Interest Rate Spreads | Armenia
 
English  
    Published:   June 1, 2007        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2007134   Pages:   28
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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