Competition between microfinance institutions in Peru, a measurement using the Boone indicator in the period 2003-2009
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Sep 6, 2016
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Abstract
This paper analyzes the competition between Peruvian microfinance
institutions (MFIs) using the Boone indicator, from 2003 to 2009. The
findings suggest that microfinance has been developing in a more competitive
environment that promotes financial inclusion and the development
of efficient institutions. In turn, it places on the authorities’ agenda the
responsibility for monitoring and preventing questionable practices in
the provision of credit that can lead to over-indebtedness of clients with
the deterioration of the loan portfolio of MFIs. For further research, it is
suggested to extend the period of analysis and/or to study the relationship
between competition, financial results of institutions and the level
of indebtedness of customers.
institutions (MFIs) using the Boone indicator, from 2003 to 2009. The
findings suggest that microfinance has been developing in a more competitive
environment that promotes financial inclusion and the development
of efficient institutions. In turn, it places on the authorities’ agenda the
responsibility for monitoring and preventing questionable practices in
the provision of credit that can lead to over-indebtedness of clients with
the deterioration of the loan portfolio of MFIs. For further research, it is
suggested to extend the period of analysis and/or to study the relationship
between competition, financial results of institutions and the level
of indebtedness of customers.
Keywords
microfinanças, concorrência, indicador de Boone, microcréditoMicrofinance, competition, Boone indicator, microcredit.microfinanzas, competencia, indicador de Boone, microcrédito.
References
Assefa, E.; Hermes, N., y Meesters, A. (2013). Competition and the performance of microfinance institutions. Applied Financial Economics, 23 (9), 767-782.
Baumol, W. J., Panzar, J. y Willig, R. (1982). Contestable Markets and the Theory of Industr|ial Structure. San Diego, C.A: Hartcourt Brace Jovanovich.
Benston, G. J., Hanweck, G. A., y Humphrey, D. B. (1982). Scale economies in banking: A restructuring and reassessment. Journal of money, credit and banking, 14(4), 435-456.
Bikker, J. A., and J. W. Bos (2005). Trends in competition and profitability in the banking industry: A basic framework. SUERF.
Boone, J. (2000). Competition. Discussion Paper Series No. 2636. Londres: Center for Economic Policy Research (CEPR).
Boone, J. (2008). A new way to measure competition. The Economic Journal, 118 (531), 1245-1261.
Boone, J.; J. van Ours, and H. van der Wiel (2007). How (not) to measure competition. Discussion Paper 32. Tilburg University, Center for Economic Research.
Claessens, S. (2009). Competition in the Financial Sector: Overview of Competition Policies. Working Paper 09/45. Washington D.C.: International Monetary Fund.
Carbó, S., and Rodríguez, F. (2007). The Determinants of Bank Margins in European Banking. Journal of Banking & Finance, 31 (7), 2043-2063.
Christen, R. P. (2001). Commercialization and mission drift. Occasional paper No 5. Washington D.C.: CGAP.
Cortez, G. (2007). Competencia Monopolística y Márgenes Bancarios en el Perú: 1995-2005. Pensamiento Crítico, 8, 115-130.
Del Pozo, C. (2008, noviembre). Nivel de Competencia en las Microfinanzas, Evidencia para el Perú. Documento presentado en el XXVI Encuentro de Economistas del Banco Central de Reserva del Perú, Lima, Perú.
Gravelle, H. y R. Ress (2006). Microeconomía. Madrid: Pearson Educación.
Greene, W. (2012). Econometric analysis, 7 ed., Boston: Pearson.
Hartarska, V., Shen, X., and Mersland, R. (2013). Scale economies and input price elasticities in microfinance institutions. Journal of Banking & Finance. 37(1), 118- 131.
León, J. y Jopen, G. (2011). La heterogeneidad del microcréditos en el sector financiero regulado peruano. En J. León y J. Iguiñiz (eds.) Desigualdad distributiva en el Perú: dimensiones (pp. 291-320). Lima: Fondo Editorial de la Pontificia Universidad Católica del Perú.
Mas-Colell, A., M. Whinston, and J. Green (1995). Microeconomic theory, vol. 1. New York: Oxford University Press.
Morón, E.; J. Tejada y A. Villacorta (2010). Competencia y Concentración en el Sistema Financiero Peruano. Documento de Discusión. Lima: Centro de Investigación de la Universidad del Pacífico (CIUP).
Oda, D. y N. Silva (2010). Competencia y toma de riesgo en el mercado de créditos de consumo bancario chileno, 1997-2009. Working Paper 562. Santiago de Chile: Banco Central de Chile.
Panzar, J. y Rosse, J. (1987). Testing for Monopoly Equilibrium. Journal of Industrial Economics, 35 (4), 229 -263.
Schreiner, M. (2001). Seven aspects of loan size. Journal of Microfinance/ESR Review, 3 (2), 27-47.
van Leuvensteijn, M., Bikker, J. A., van Rixtel, A. A., and Sørensen, C. K. (2011). A new approach to measuring competition in the loan markets of the euro area. Applied Economics, 43 (23), 3155-3167.
Baumol, W. J., Panzar, J. y Willig, R. (1982). Contestable Markets and the Theory of Industr|ial Structure. San Diego, C.A: Hartcourt Brace Jovanovich.
Benston, G. J., Hanweck, G. A., y Humphrey, D. B. (1982). Scale economies in banking: A restructuring and reassessment. Journal of money, credit and banking, 14(4), 435-456.
Bikker, J. A., and J. W. Bos (2005). Trends in competition and profitability in the banking industry: A basic framework. SUERF.
Boone, J. (2000). Competition. Discussion Paper Series No. 2636. Londres: Center for Economic Policy Research (CEPR).
Boone, J. (2008). A new way to measure competition. The Economic Journal, 118 (531), 1245-1261.
Boone, J.; J. van Ours, and H. van der Wiel (2007). How (not) to measure competition. Discussion Paper 32. Tilburg University, Center for Economic Research.
Claessens, S. (2009). Competition in the Financial Sector: Overview of Competition Policies. Working Paper 09/45. Washington D.C.: International Monetary Fund.
Carbó, S., and Rodríguez, F. (2007). The Determinants of Bank Margins in European Banking. Journal of Banking & Finance, 31 (7), 2043-2063.
Christen, R. P. (2001). Commercialization and mission drift. Occasional paper No 5. Washington D.C.: CGAP.
Cortez, G. (2007). Competencia Monopolística y Márgenes Bancarios en el Perú: 1995-2005. Pensamiento Crítico, 8, 115-130.
Del Pozo, C. (2008, noviembre). Nivel de Competencia en las Microfinanzas, Evidencia para el Perú. Documento presentado en el XXVI Encuentro de Economistas del Banco Central de Reserva del Perú, Lima, Perú.
Gravelle, H. y R. Ress (2006). Microeconomía. Madrid: Pearson Educación.
Greene, W. (2012). Econometric analysis, 7 ed., Boston: Pearson.
Hartarska, V., Shen, X., and Mersland, R. (2013). Scale economies and input price elasticities in microfinance institutions. Journal of Banking & Finance. 37(1), 118- 131.
León, J. y Jopen, G. (2011). La heterogeneidad del microcréditos en el sector financiero regulado peruano. En J. León y J. Iguiñiz (eds.) Desigualdad distributiva en el Perú: dimensiones (pp. 291-320). Lima: Fondo Editorial de la Pontificia Universidad Católica del Perú.
Mas-Colell, A., M. Whinston, and J. Green (1995). Microeconomic theory, vol. 1. New York: Oxford University Press.
Morón, E.; J. Tejada y A. Villacorta (2010). Competencia y Concentración en el Sistema Financiero Peruano. Documento de Discusión. Lima: Centro de Investigación de la Universidad del Pacífico (CIUP).
Oda, D. y N. Silva (2010). Competencia y toma de riesgo en el mercado de créditos de consumo bancario chileno, 1997-2009. Working Paper 562. Santiago de Chile: Banco Central de Chile.
Panzar, J. y Rosse, J. (1987). Testing for Monopoly Equilibrium. Journal of Industrial Economics, 35 (4), 229 -263.
Schreiner, M. (2001). Seven aspects of loan size. Journal of Microfinance/ESR Review, 3 (2), 27-47.
van Leuvensteijn, M., Bikker, J. A., van Rixtel, A. A., and Sørensen, C. K. (2011). A new approach to measuring competition in the loan markets of the euro area. Applied Economics, 43 (23), 3155-3167.
How to Cite
Aguilar Andía, G. (2016). Competition between microfinance institutions in Peru, a measurement using the Boone indicator in the period 2003-2009. Cuadernos De Administración, 29(52), 169–198. https://doi.org/10.11144/javeriana.cao29-52.cimp
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