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| Author: | Carbó-Valverde, S. Rodriguez-Fernandez, F. Udell, G.F. |
| Title: | Bank market power and SME financing constraints |
| Journal: | Review of finance
2009 : VOL 13:2 p. 309-340 |
| Index terms: | credit banking competition information spain |
| Freeterms: | market power |
| Language: | eng |
| Abstract: | Some studies find that market power is associated with credit availability (information hypothesis); others find that less competitive banking markets lead to more credit rationing (market power hypothesis). Empirical research has relied solely on concentration as a measure of market power. The industrial organization literature, however, argues that a structural competition indicator such as the Lerner index is a superior measure. The information hypothesis and the market power hypothesis are tested using these two alternative measures of market power and find that they generally give conflicting results. However, there is also offered evidence suggesting that both views can be reconciled. |
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