2014年外文翻译--相对权力和效率是拉丁美洲银行盈利能力的主要决定因素

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1、4000 英文单词， 2.1 万英文字符 ，中文 6500 字 文献出处 :Guilln J, Rengifo E W, Ozsoz E. Relative power and efficiency as a main determinant of banks profitability in Latin AmericaJ. Borsa Istanbul Review, 2014, 14(2):119-125. Relative power and efficiency as a main determinant of banks profitability in Latin America

2、Jorge Guillen, Erick W. Rengifo, Emre Ozsoz Abstract Despite the financial sector liberalization and openness that started in the earlier 90s and significant macroeconomic development as well as increasing inflow of capital toward the region, there is not any evidence of the reduction of interest ra

3、tes as well as banks profits in Latin America. In this paper we develop a model to estimate the determinants of Latin American banks profitability and, try to understand the reasons why banks are reluctant to decrease their interest rate spreads even when change in competitiveness in the financial s

4、ystem is improving. By using Data Envelopment Analysis to better exploit the information of several variables at the same time and, by employing a sample of 200 Banks located in Argentina, Bolivia, Brazil, Costa Rica, Ecuador, El Salvador, Mexico, Nicaragua, Paraguay, Peru, Uruguay and Venezuela; we

5、 find that banks profits grew consistently above the normal levels of profits adjusted by risk. Our results show that banks in Latin America have been profiting from their oligopolistic position in detriment of their clients in particular and of their whole economy in general. Keywords: Data Envelop

6、ment Analysis; Latin American banks; Banks profitability; Market concentration 1. Introduction During the 90s most of Latin American economies started to open their economies and to liberalize their financial sys- tems which were mostly controlled by their governments until then (Quispe-Agnoly & McQuerry, 2001). During this period it was observed that the composition of banks assets within the region changed and that a significant inflow of foreign capital moved toward their banki