stylised facts are considered: globalisation, information technology, and competition. Globalisation and information technology … may have benefited the most productive firms more and the growth of competition may at the same time have stimulated the …

presence of foreign lenders raises competition, reduces domestic lenders profits and hence reduces domestic lenders capital … supply (competition effect). Two different cases are then possible. If foreign lenders are able, in spite of the collateral … competition on the capital market), then the economy benefits at the steady state both from a large capital supply and a low cost …

differentiation and imperfect competition in the banking sector. Macroeconomic shocks affect the return on capital and, together with …