Financial Openness, Market Structure and Private Credit: An Empirical Investigation
Economics Letters - Ronald Fischer y Patricio Valenzuela


Consistent with recent theoretical models, this paper finds that financial openness has a positive effect on private credit in economies characterized by a competitive banking sector, but that this effect vanishes and even becomes negative in economies with imperfect banking competition.

Acceder a Economics Letters >>>

República 701, Santiago, Chile. Teléfono: (+562) 2978 4054 / (+562) 2978 4914


El Centro de Finanzas agradece el significativo aporte del Banco de Crédito e Inversiones, BCI, a esta iniciativa