BANKING INDUSTRY, MARKET STRUCTURE AND EFFICIENCY: THE REVISITED MODEL TO INTERMEDIARY HYPOTHESES

The object of this article is to propose a new conception of the structure-conductperformance/ efficient structure relationship. Alongside standard hypotheses, we retain two intermediary hypotheses, named modified efficient structure hypothesis and hybrid efficiency/collusion hypothesis. The models are estimated using a random effects estimating procedure over a sample of Tunisian commercial banks during the period 1990-2005. The results about the variable efficiency cannot reject the efficient structure hypothesis. Besides, the results do not show any support in favour of the classic SCP hypothesis and intermediary hypotheses. This suggests that during the period under consideration, the Tunisian banks adopt a sufficient competitive behaviour and that they generate their performance not through market power exercise, rather through an efficient activity