Love, InessaMartínez Peria, María Soledad2012-12-212012-12-212012-08https://hdl.handle.net/10986/12010Combining multi-year, firm-level surveys with country-level panel data for 53 countries, the authors explore the impact of bank competition on firms' access to finance. They find that low competition, as measured by high values of the Lerner index, diminishes firms' access to finance, while commonly-used bank concentration measures are not robust predictors of firms' access to finance. In addition, they find that the impact of competition on access to finance depends on the environment that banks operate in. Some features of the environment, such as greater financial development and better credit information, can mitigate the damaging impact of low competition. But other characteristics, such as high government bank ownership, can exacerbate the negative effect.en-USCC BY 3.0 IGOACCESS TO BANKACCESS TO CREDITACCESS TO FINANCEACCESSIBILITYACCOUNTS RECEIVABLEADVERSE SELECTIONAVAILABILITY OF CREDITAVAILABILITY OF FINANCEBAILOUTSBALANCE SHEETBANK ASSETSBANK BRANCHBANK COMPETITIONBANK ENTRYBANK HOLDINGBANK HOLDING COMPANIESBANK LOANBANK MARKETBANK MERGERSBANK POLICYBANK REGULATIONBANKING INDUSTRYBANKING MARKETBANKING MARKETSBANKING SECTORBANKING SECTORSBANKING SYSTEMBANKING SYSTEMSBANKSBORROWINGCENTRAL BANKSCHECKSCOLLATERALCOMPETITIVENESSCONSOLIDATIONCONSUMER PROTECTIONCONTRACT ENFORCEMENTCOUNTRY COMPARISONSCREDIT BUREAUCREDIT CONSTRAINTSCREDIT FACILITIESCREDIT INFORMATIONCREDIT MARKETCREDIT MARKETSCREDIT PRODUCTSCREDIT REGISTRIESCREDIT REGISTRYCULTURAL BIASESDEBTDENIAL RATESDEPOSITDEPOSITSDEREGULATIONDERIVATIVEDEVELOPMENT ECONOMICSDEVELOPMENT POLICYDOMESTIC CREDITDUMMY VARIABLEDUMMY VARIABLESECONOMIC GROWTHELASTICITYEMERGING MARKETSEMPIRICAL EVIDENCEEMPIRICAL STUDIESENVIRONMENTSEXPORTEREXPORTERSEXTERNAL DEBTFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL ACCESSFINANCIAL COSTSFINANCIAL CRISISFINANCIAL DEVELOPMENTFINANCIAL INSTITUTIONFINANCIAL INTERMEDIATIONFINANCIAL MARKETSFINANCIAL PRODUCTFINANCIAL REFORMFINANCIAL SERVICESFINANCIAL STUDIESFINANCIAL SYSTEMFINANCING OBSTACLESFOREIGN FIRMSFUTURE RESEARCHGDPGDP DEFLATORGOVERNMENT BANKGOVERNMENT BANKSGOVERNMENT OWNERSHIPGREATER CREDIT AVAILABILITYGROSS REVENUEGROWTH RATEINDUSTRIAL ECONOMICSINFLATIONINFLATION RATEINFORMATION ASYMMETRIESINPUT PRICESINTANGIBLEINTANGIBLE ASSETSINTEREST RATESINTERNATIONAL BANKINVENTORYINVESTINGINVESTMENT BANKSLACK OF COMPETITIONLENDERLENDING INSTITUTIONSLINE OF CREDITLINES OF CREDITLOANLOAN APPLICATIONLOAN CONTRACTSLOAN MARKETSLOAN PRICESLOCAL BANKSMARGINAL COSTMARGINAL COSTSMARKET COMPETITIONMARKET MECHANISMSMARKET POWERMARKET SHAREMARKET STRUCTUREMONOPOLYMORTGAGEMORTGAGE MARKETMORTGAGE MARKETSOVERDRAFTOVERDRAFT FACILITYOVERDRAFTSOWNERSHIP STRUCTUREPERSONAL ASSETSPERSONNEL EXPENSESPRIVATE CREDITPRIVATE CREDIT BUREAUPROPERTY RIGHTSPROPERTY RIGHTS PROTECTIONPUBLIC CREDITRETAIL ENTERPRISESSAVINGSSHARE OF ASSETSSMALL BUSINESSSMALL BUSINESS CREDITSMALL BUSINESS LENDINGTOTAL OUTPUTUNIVERSAL BANKINGVALUE OF COLLATERALWorld Bank10.1596/1813-9450-6163