G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w4921
来源IDWorking Paper 4921
The Effect of Credit Market Competition on Lending Relationships
Mitchell A. Petersen; Raghuram G. Rajan
发表日期1994-11-01
出版年1994
语种英语
摘要This paper provides a simple model showing that the extent of competition in credit markets is important in determining the value of lending relationships. Creditors are more likely to finance credit constrained firms when credit markets are concentrated because it is easier for these creditors to internalize the benefits of assisting the firms. The model has implications about the availability and the price of credit as firms age in different markets. The paper offers evidence for these implications from small business data. It concludes with conjectures on the costs and benefits of liberalizing financial markets, as well as the timing of such reforms.
主题Financial Economics ; Financial Institutions
URLhttps://www.nber.org/papers/w4921
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/562339
推荐引用方式
GB/T 7714
Mitchell A. Petersen,Raghuram G. Rajan. The Effect of Credit Market Competition on Lending Relationships. 1994.
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