Fries and Taci (2002) and Yildirim and Philippatos (2007) used the Panzar- Rosse H (1987) statistic to
measure competition in transition countries.They find that greater competition in a banking market is associated
with greater cost efficiency. Yildirim and Philippatos present that greater competition is negatively associated with
profit efficiency, a finding consistent with competition reducing margins. In contrast, Grigorian and Manole find
that higher banking market concentration is associated with great cost efficiency