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Financial Openness, Market Structure and Private Credit: An Empirical Investigation

Ronald Fischer and Patricio Valenzuela ()
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Ronald Fischer: University of Chile

Working Papers from University of Pennsylvania, Wharton School, Weiss Center

Abstract: This paper empirically examines whether the effect of financial openness on private credit depends on the market structure of the banking sector prior liberalization. We find that financial openness has a positive effect on private credit in countries characterized by a highly competitive banking sector. However, this effect vanishes and even becomes negative in countries where the market structure is one of imperfect competition. These findings are consistent with the predictions of recent theoretical models.

JEL-codes: F34 G15 G21 G38 (search for similar items in EconPapers)
Date: 2013
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Journal Article: Financial openness, market structure and private credit: An empirical investigation (2013) Downloads
Working Paper: Financial Openness, Market Structure and Private Credit: An Empirical Investigation (2013) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:upafin:13-26

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