This paper provides a simple model showing that the extent of competition in credit markets is important in determining …

Countries around the world differ substantially in the relative importance of their banks and capital markets in … empirical evidence showing that countries with explicit deposit insurance and a high degree of state-owned bank assets have … smaller equity markets, a lower number of publicly traded firms and a smaller amount of bank credit to the private sector …

We draw on stylized facts from the finance literature to build a model where altering the relative costs of bank and … both the largest and smallest firms. In contrast, reducing the frictions involved in bank lending promotes the expansion of …---promoting bond issuance causes exit while cheaper bank credit induces entry. When reducing transactions costs in one market, the …

We examine the impact of bank supervision on the financing obstacles faced by almost 5,000 corporations across 49 …. Finally, we find that bank supervisory agencies that force accurate information disclosure by banks and enhance private …

Competition in many important industries centers on investment in intellectual property. Firms engage in dynamic …, Schumpeterian competition for the market, through sequential winner-take-all races to produce drastic innovations, rather than … through static price/output competition in the market. Sound antitrust economic analysis of such industries requires explicit …

The main purpose of this paper is to estimate an equilibrium model of private and public school competition that can …