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| Author: | Gan, J. |
| Title: | Banking market structure and financial stability: evidence from the Texas real estate crisis in the 1980s |
| Journal: | Journal of Financial Economics
2004 : SEP, VOL. 73:3, p. 567-601 |
| Index terms: | Banking Market structure Moral hazard Property |
| Freeterms: | Texas real estate crisis |
| Language: | eng |
| Abstract: | This article examines the relationship between banking market structure and financial stability. Using the Texas real estate collapse in the 1980s as a natural experiment, the author finds evidence to support his hypothesis. First hypothesis is that competition reduces franchise value. Second, reduced franchise value induces risk taking. |
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