CAJ | 학술논문

已有文献的比较分析表明，基于Panzar-Rosse模型对我国银行业市场竞争度的估计存在不一致，通过实证检验发现模型设定与变量度量的差异是引起结论不一致的主要原因。本文着重对模型的正确设定和变量的准确度量进行了讨论，并使用2003-2010年14家商业银行的数据进行验证。结果表明，该时期我国银行业处于垄断竞争状态，而2008年国际金融危机后市场竞争度明显下降，这一结果对于替代性变量度量的选取非常稳健。
이유문헌적비교분석표명，기우Panzar-Rosse모형대아국은행업시장경쟁도적고계존재불일치，통과실증검험발현모형설정여변량도량적차이시인기결론불일치적주요원인。본문착중대모형적정학설정화변량적준학도량진행료토론，병사용2003-2010년14가상업은행적수거진행험증。결과표명，해시기아국은행업처우롱단경쟁상태，이2008년국제금융위궤후시장경쟁도명현하강，저일결과대우체대성변량도량적선취비상은건。
Comparisons between the literatures studying China＇s banking in- dustry using Panzar-Rosse method indicate that the estimates of the degree of com- petition are inconsistent. After empirical investigations we find the main reasons are the differences in model specifications and variable measurements. Then we have a discussion about the correct model specifications and variable measure- ments. Empirical studies using data of 14 banks during 2003 to 2010 show that the banking system in China was in a state of monopolistic competition, and the degree of competition dropped significantly after the financial crisis in 2008. These results are robust when we use different variable measurements.