Foreign Ownership and Market power in Banking
UCLan Cyprus
School of Business & Management
Research Series
Thursday 6th February 2014, 14:00 – 15:00 Room CY115
Presenter: Sofronis Clerides, Associate Professor of Economics, University of Cyprus
Title: “Foreign Ownership and Market power in Banking”
Abstract:
How does increasing globalization of the banking sector impact on the market power of individual banks? Using a novel global data set with bank-year estimates of market power we examine the impact on market power of (i) foreign ownership of individual banks and (ii) country-level foreign bank penetration. We find that the ownership status of individual banks does not explain their market power, but a high level of foreign presence at the country level does have a positive and significant effect on market power.
Biography:
Dr Sofronis Clerides is an Associate Professor of Economics at the University of Cyprus. He h?lds a BA in Economics and Mathematics from the University of Wisconsin and a PhD in Economics from Yale University. He has worked as a researcher at the World Bank, as a visiting lecturer at Yale University, and as a visiting scholar at Northwestern University. He is currently a Research Affiliate of the Centre for Economic Policy Research (CEPR) and a Senior Fellow at the Rimini Centre for Economic Analysis.
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