estimation. The analysis allows to distinguish between rents that accrue due to single bank lending, rents that accrue due to …

costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may … disadvantage. The public bank's competitive advantage may be offset, independently of what its true objective function is. Even …

are better able to evaluate a project's risk than entrepreneurs. We study the bank's choice between screening and … collateralization in a model where banks do not have this superior screening skill. In particular, we study the effect of bank … competition on this choice. We find that competing banks use collateral less often than a monopolistic bank because competition …

costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may … disadvantage. The public bank's competitive advantage may be offset,independently of what its true objective function is. Even …