Bank Competition and Firm Creation:
This paper investigates the empirical relationship between competition in the financial sector and the creation of firms in the non-financial sector. It finds that bank competition has an overall positive effect on firm creation. However, consistent with theories of banking arguing that competition...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2001
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Schriftenreihe: | IMF Working Papers
Working Paper No. 01/21 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper investigates the empirical relationship between competition in the financial sector and the creation of firms in the non-financial sector. It finds that bank competition has an overall positive effect on firm creation. However, consistent with theories of banking arguing that competition may reduce the availability of credit to informationally opaque firms, it also finds that asymmetric information limits the overall positive effect of bank competition on firm creation. Indeed, bank competition is less favorable to the emergence of new firms in industrial sectors where informational asymmetries are more important, and in extreme cases has a negative effect |
Beschreibung: | 1 Online-Ressource (39 p) |
ISBN: | 1451843917 9781451843910 |
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spelling | Dell'Ariccia, Giovanni Verfasser aut Bank Competition and Firm Creation Dell'Ariccia, Giovanni Washington, D.C International Monetary Fund 2001 1 Online-Ressource (39 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 01/21 This paper investigates the empirical relationship between competition in the financial sector and the creation of firms in the non-financial sector. It finds that bank competition has an overall positive effect on firm creation. However, consistent with theories of banking arguing that competition may reduce the availability of credit to informationally opaque firms, it also finds that asymmetric information limits the overall positive effect of bank competition on firm creation. Indeed, bank competition is less favorable to the emergence of new firms in industrial sectors where informational asymmetries are more important, and in extreme cases has a negative effect Online-Ausg http://elibrary.imf.org/view/IMF001/00612-9781451843910/00612-9781451843910/00612-9781451843910.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Dell'Ariccia, Giovanni Bank Competition and Firm Creation |
title | Bank Competition and Firm Creation |
title_auth | Bank Competition and Firm Creation |
title_exact_search | Bank Competition and Firm Creation |
title_exact_search_txtP | Bank Competition and Firm Creation |
title_full | Bank Competition and Firm Creation Dell'Ariccia, Giovanni |
title_fullStr | Bank Competition and Firm Creation Dell'Ariccia, Giovanni |
title_full_unstemmed | Bank Competition and Firm Creation Dell'Ariccia, Giovanni |
title_short | Bank Competition and Firm Creation |
title_sort | bank competition and firm creation |
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