Abstract:Lesotho's banking industry is highly concentrated and is perceived to be uncompetitive. However, high market concentration does not necessarily imply a lack of competition in the market. Until now, there is no evidence supporting the view that the industry is uncompetitive. Therefore, this paper uses monthly bank‐level data from 2013:10 to 2019:5, and employs the Panzar‐Rosse H‐statistic and the Boone indicator to examine competition in Lesotho's banking industry. We find that the industry acts as a ‘monopoly’… Show more
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