Rekabet ve Etkinlik: Avrupa Birliği Bankacılık Endüstrisi Üzerine Bir Uygulama

Bu çalışmanın temel amacı “rekabet–etkinlik” hipotezini test etmektir. Avrupa Birliği (AB) bankacılık sisteminde krizlere karşı direncin arttırılmasına yönelik kararların, rekabet ve maliyet etkinliğini artırdığı bilinmektedir. Rekabet-Etkinlik hipotezine göre finansal piyasalarda ortaya çıkan rekabet etkinlik artışına, dolayısıyla maliyetlerin de düşmesine neden olmaktadır. Analize konu olan örneklem 26 AB ülkesidir, 2006-2014 dönemini kapsamaktadır. Çalışmada Panel Stokastik Sınır Analizinden yararlanılarak maliyet etkinlik skorları hesaplandığında; özellikle 2010 yılı sonrası borç krizinin ardından maliyet etkinliğinin düştüğü görülmektedir. Ayrıca Lerner indeksi yöntemiyle rekabet gücü ölçüldüğünde; AB bankacılık sisteminde rekabet gücünün arttığı anlaşılmaktadır. Çalışmanın amacı bağlamıyla rekabet ve etkinlik arasındaki Granger nedensellik incelendiğinde; rekabetten etkinliğe pozitif bir nedensellik mevcut iken; etkinlikten rekabete bir nedensellik olmadığı görülmektedir. Bu sonuçlara göre Avrupa Birliği bankacılık sistemi açısından ‘Quiet Life’ (rahat yaşam) hipotezi doğrulanmamaktadır.

Competition and Efficiency: An Empirical Analysis on the Banking Industry of the European Union

The principal aim of this study is to test the hypothesis of “competition-efficiency”. It is known that the decisions on increasing strength against the crises in the banking system of the European Union (EU) increase competition and cost efficiency. According to the hypothesis of “competition-efficiency”, competition in financial markets causes increasing of efficiency and decreasing of costs. The sample in this study is 26 countries of the EU and in the period of 2006-2014. Cost efficiency scores are measured by using the Panel Stochastic Frontier Analysis, and it is seen that cost efficiency decreases within the debt crisis after 2010. Besides competitive advantage is measured with the method of Lerner index, and it is witnessed that the competitive advantage increases in the banking system of the EU. With regard to the aim of the study, Granger causality between competition and efficiency is examined, and there is a positive causality from competition to efficiency, but also there is not causality from efficiency to competition. According to these findings, the hypothesis of Quiet Life is not accepted for the banking system of the EU.

Keywords:

Efficiency, Competition Lerner Index, SFA,

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