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116 Economic Analysis (2010, Vol. 43, No. 1-2, 108-116) relationships between factors of partnerships, mainly in case of reasoning, so further efforts should be made to answer all questions. References Róbert, P. (1999): Kikből lettek vállalkozók? A vállalkozóvá válás meghatározó tényezői Magyarországon a kommunizmus előtt, alatt és után. Közgazdasági Szemle XLVI. évf. 403-427. oldal Román, Z. (2007): A vállalkozás a magyar gazdaságban – nemzetközi tükörben. Köz-Gazdaság 2007. II. évf. 2. pp. 67-84. Kuczi, T. (1998): Vállalkozói kultúra – az életutak finalitása. Replika 29. szám 1998. Czakó, Á., Kuczi, T., Lengyel, GY. Vajda, Á. (1995): A kisvállalkozások néhány jellemzője a 90-es évek elején. Közgazdasági Szemle, XLII. évf. 1995. 4. sz. Gábor, R. I. (1997): Belső versus foglalkozási munkaerőpiac – a posztszocialista átalakulás elhanyagolt dimenziója. Közgazdasági Szemle XLIV. évf. 457-473. oldal KSH (2006a): A gazdasági fejlődés regionális különbségei Magyarországon 2005-ben. Országos statisztika, Központi Statisztikai Hivatal Debreceni Igazgatósága KSH (2005a): Kutatás és fejlesztés 2004 Központi Statisztikai Hivatal KSH (2005b): Innováció 2003. Központi Statisztikai Hivatal Szerb, L., Varga, A. (2004): A vállalkozói aktivitás regionális és lakóhely szerinti különbségei Magyarországon 2004-ben. Megjelent: Vállalkozásindítás, vállalkozói hajlandóság és a vállalkozási környezeti tényezők alakulása Magyarországon a 2000-es évek első felében. Global Entrepreneurship Monitor, 2004 Pécs Observatory of European SMEs (2003/5): SMEs and Cooperation. KPMG Special Services and EIM Business & Policy Research in the Netherlands, European Network for SME Research, Intomart Luxembourg. Article history: Received: 8 January 2010 Accepted: 1 March 2010
ORIGINAL SCIENTIFIC PAPER Competition in Banking Market in Slovakia Střelecká Zdenka * , Ekonomická univerzita v Bratislave, Národohospodárska fakulta, Bratislava, Slovakia UDC: 336.7 (437.6) JEL: G21; N24 ABSTARCT – The process of fundamental changes of Slovak banking sector has had essential influence on the concentration and on the character of banking products. The article is oriented on analysing the competition level using Herfindahl index and CR3 and CR5 indexes. Indeces are used to compare the level of competition using following balance items: total assets, bank loans and deposits to corporate and retail sector. This approach brings us different conclusions. KEY WORDS: competition, banking sector in Slovakia, Herfindahl index, CR3, CR5, balance sheet Introduction Competition is a basic component of a well-functioning market mechanism. It is a rivalry between individuals or economic groups with their differentiated interests and goals. In general, we recognize competition on the supply or demand side, price or non-price and perfect or imperfect competition. Imperfect competition is further characterized as monopolistic competition, oligopoly and monopoly. Information about the level of concentration is important not just for the evaluation of market structure, but they help in the process of creating recommendation for concrete measures of monetary policy. Because of its special position it is important to determine the level of the competition in the banking market. Firstly, it is because banking market belongs to the markets with high and strict regulation. Supervision on the banking sector is carried out by specialized departments of the Ministries of Finance, separate offices or central banks. In Slovakia, the supervision is operated by National Bank of Slovakia (NBS). Secondly, entry in the market is a subject to several restrictions. For example the management has to be qualified enough; it has to obtain a banking license from the supervisor and has to own a sufficient level of capital. Furthermore, during their activity commercial banks have to meet the requirements of domestic supervisor and the minimum capital requirements known as Basel II. On the other hand it is known that banks undertake high risk and their actions affect the overall development of the economy. That is the main reason why the banking sector is a subject to a higher degree of regulation than other sectors are. In the past the importance of healthy functioning of the banking sector forced the governments in many countries to undergo restructuring process of banking sectors to avoid the negative impact on the entire sector and on the whole economy. * E-mail: zdenka.strelecka@gmail.com
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C O N T E N T S The Upsurgence of C
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Guest Editor’s Notes The current
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