| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP1634
|
| DP1634 Returns to Regionalism: An Evaluation of Non-traditional Gains from RTAs |
| Raquel Fernández
|
| 发表日期 | 1997-04-30
|
| 出版年 | 1997
|
| 语种 | 英语
|
| 摘要 | We develop a model of the banking firm that is intended to reflect contemporary trends in the evolution of banks. In particular, we focus on the effects of both interbank and capital market competition on the role of banks in funding corporations. In our model, banks can choose to provide loans that are similar to capital market funding (transaction loans) or loans that involve unique bank-specific services (relationship loans). Borrowers can choose one of these two types of bank loans or directly access the capital market. Our key result is that, contrary to what many believe, a bank?s optimal response to increased competition is to expand relationship lending relative to its transaction lending. The behaviour of the absolute level of relationship lending with respect to increasing competition is non-monotone. Initially, an elevation in competition leads to an increase in the expected level of relationship lending, but then the expected level of relationship lending falls as competition rises further. Moreover, the viability of relationship banking depends significantly on the reputational quality of banks. |
| 主题 | Financial Economics
|
| 关键词 | Commercial banking
Financial system design
investment
|
| URL | https://cepr.org/publications/dp1634
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530769
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推荐引用方式
GB/T 7714 |
Raquel Fernández. DP1634 Returns to Regionalism: An Evaluation of Non-traditional Gains from RTAs. 1997.
|
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