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El éxito de las casas comerciales en Chile: ¿Regulación o buena gestión?

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  • Juan Pablo Montero
  • Jorge Tarziján

Abstract

In this article we look at factors that could explain why department stores in Chile provide extensive financial services to their customers, and compare this situation with that in other countries. We believe that the success of department stores in Chile responds to several factors acting simultaneously; for example, asymmetric enforcement of financial regulations (stricter towards the banking industry), low bankarization, and good management. Consistent with a model of oligopolistic competition, neither can we discard the hypothesis that the rapid expansion of the department stores’ credit services is in part due to the banking industry’s little interest in extending their credit service, at least during the early years, to lower-income customers because of the externality that this would have imposed on existing customers. The available data makes it impossible to rank the importance of all these factors partly because they work together.

Suggested Citation

  • Juan Pablo Montero & Jorge Tarziján, 2010. "El éxito de las casas comerciales en Chile: ¿Regulación o buena gestión?," Working Papers Central Bank of Chile 565, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:565
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    File URL: https://www.bcentral.cl/documents/33528/133326/DTBC_565.pdf
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    References listed on IDEAS

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    4. Ellickson, Paul, 2005. "Does Sutton Apply to Supermarkets?," Working Papers 05-05, Duke University, Department of Economics.
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    Cited by:

    1. Diego Gil & Pablo A. Celhay, 2022. "Property rights and market behavior in the low‐income housing sector: Evidence from Chile," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 19(4), pages 1148-1178, December.
    2. Barrail, Zulma, 2020. "Business cycle implications of rising household credit market participation in emerging countries," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).

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