models spatial price competition between bank branches jointly with banks’ decisions on the opening or closing of branches …, the paper i) uses a new measure of bank productivity; ii) provides a productivity differences-based explanation of the … distance between bank branches and bank customers; and iii) shows how the intensity of market competition may be unaffected …

after adoption. The cost reduction translates into an improvement in banks´ profitability, which becomes significant after …

flow or profitability and increasing in the investment of the firm in both countries. Second, aspects of the two different … financial systems are examined. In Spain, a bank-based financial system, there is some modest evidence that such effects are …