The purpose of this research is to analyze the market competitiveness of mutual financial institutions in Japan during the first half of 2000s. In fact, the difference of market competitiveness between commercial banks and mutual financial institutions, and the geographical difference in Japan were considered. To measure its competitiveness, the H statistics by Panzar and Rosse (1987) was estimated, employing Panel data of Credit Associations (CAs) and Credit Cooperatives (CCs) during 1999-2005. From the nationwide results including both CAs and CCs, the markets' competitiveness of mutual financial institutions was about 0.35, which means the middle level of monopolistic competitive market. This figure is relatively smaller than commercial banks. The reason seems to be the constraints in mutual financial institutions such as geographical and capital conditions. Next, I grouped Japan into 7 geographical categories, and considered whether the local economic conditions affect the market competitiveness. The estimated results roughly showed that larger economic scale connects to the stronger market competition. However, other factors such as the level of community relationship could also influence to the competitiveness. It suggests that mutual financial institutions should focus not only on the management efficiency but also on the strong relationship with members.
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