Bank Competition, Financing Obstacles, and Access to Credit

Beck, Thorsten ; Demirguc-Kunt, Asli ; Maksimovic, Vojislav

World Bank, Washington, DC

关键词: ACCUMULATION RATE;    ADVERSE SELECTION;    AGENCY PROBLEMS;    BANK LENDING;    BANK LOANS;   

DOI  :  10.1596/1813-9450-2996
RP-ID  :  WPS2996

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Theory makes ambiguous predictions aboutthe effects of bank concentration on access to externalfinance. Using a unique data base for 74 countries offinancing obstacles and financing patterns for firms ofsmall, medium, and large size, the authors assess theeffects of banking market structure on financing obstaclesand the access of firms to bank finance. The authors findthat bank concentration increases financing obstacles anddecreases the likelihood of receiving bank finance, with theimpact decreasing in size. The relation of bankconcentration and financing obstacles is dampened incountries with well developed institutions, higher levels ofeconomic and financial development, and a larger share offoreign-owned banks. The effect is exacerbated by morerestrictions on banks' activities, more governmentinterference in the banking sector, and a larger share ofgovernment-owned banks. Finally, it is possible to alleviatethe negative impact of bank concentration on access tofinance by reducing activity restrictions.