TAILIEUCHUNG - Assessing Bank Competition within the East African Community

However, payment systems are not run by a ‘central planner’, but are populated by independent banks interacting strategically. We therefore look at the equilibrium liquidity/routing choices. A typical equilibrium here has banks routing part of their payments to RTGS, and part into the LSM, with the reliance on the LSM increasing with the price of liquidity. Despite the fact that such an outcome is inefficient (the planner would choose either of the two streams, never both), it can still be better than the one emerging without the LSM. So, an LSM may lead to a ‘second- best’ outcome, improving on the. | WP 12 32 Assessing Bank Competition within the East African Community Sarah Sanya and Matthew Gaertner INTERNATIONAL MONETARY FUND 2012 International Monetary Fund WP 12 32 IMF Working Paper African Department Competition in the EAC banking system Prepared by Sarah Sanya and Mathew Gaertner1 Authorized for distribution by Peter Allum January 2012 Abstract This paper is an empirical analysis of competitiveness in the banking system of four out of the five East African Community EAC countries2. The results show that the degree of competition is low due to a combination of structural and socio-economic factors. By way of preview the analysis ranks the countries in terms of banking sector competitiveness in the following order Kenya Tanzania Uganda and Rwanda. JEL Classification Numbers D4 G15 G21 L11 N20 Keywords East African Community Competition Banking Financial sector H-statistic Lerner Index Author s E-Mail Address ssanya@ mgaertner@ 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. 1 The authors are grateful for the valuable comments and suggestions provided by Peter Allum Martine Guerguil Masafumi Yabara and the participants of the February 2011 Financial Sector Network Seminar in the African department of the IMF. 2 Burundi is not included in depth in the paper given the lack of available data in some areas. 2 Contents Page I. II. Measuring the Degree of Competition in the A. Structural Measures of B. Empirical Measures of The Lerner The Panzar and Rosse H-statistic as an Alternative Measure of Competition in the EAC. .12 III. Determinants of Competition in the EAC Banking Empirical

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