Entry and Strategic Information Display in Credit Markets

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Entry and Strategic Information Display in Credit Markets

Author Info

Jan Bouckaert () (University of Antwerp, Department of Economics)
Hans Degryse () (Katholieke Universiteit Leuven and CentER for Economic Research)

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Hans Degryse

Abstract

The Riegle-Neal Act in the US and the Economic and Monetary Union in Europe are recent initiatives to stimulate financial integration. These initiatives allow new entrants to "poach" the incumbents' clients by offering them attractive loan offers. We show that these deregulations may be insufficient since asymmetric information seriously hampers the integration of credit markets. Moreover, banks may strategically display some information hindering the scale of entry when asymmetric information is moderate. We also show that voluntary information sharing emerges only when asymmetric information is low.

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Paper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 79.

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Date of creation: 01 Mar 2002
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Publication status: Published in The Economic Journal, 2006, vol. 116, pages 702-720
Handle: RePEc:sef:csefwp:79

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Article
- Jan Bouckaert & Hans Degryse, 2006. "Entry and Strategic Information Display in Credit Markets," Economic Journal, Royal Economic Society, vol. 116(513), pages 702-720, 07. [Downloadable!] (restricted)

Find related papers by JEL classification:
D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

This paper has been announced in the following NEP Reports:

NEP-ALL-2002-12-02 (All new papers)
NEP-CFN-2002-12-02 (Corporate Finance)
NEP-COM-2002-12-02 (Industrial Competition)
NEP-FIN-2002-12-02 (Finance)
NEP-RMG-2002-12-02 (Risk Management)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Tullio Jappelli & Marco Pagano, 2000. "Information Sharing in Credit Markets: The European Experience," CSEF Working Papers 35, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Hainz, Christa, 2004. "Quality of Institutions, Credit Markets and Bankruptcy," Discussion Papers in Economics 388, University of Munich, Department of Economics. [Downloadable!]
Other versions:
- Christa Hainz, 2004. "Quality of Institutions, Credit Markets and Bankruptcy," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
- Hainz, Christa, 2005. "Quality of Institutions, Credit Markets and Bankruptcy," Proceedings of the German Development Economics Conference, Kiel 2005 18, Verein für Socialpolitik, Research Committee Development Economics. [Downloadable!]
- Christa Hainz, 2005. "Quality of Institutions, Credit Markets and Bankruptcy," William Davidson Institute Working Papers Series wp745, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
Jan Bouckaert & Hans Degryse, 2002. "Softening Competition by Enhancing Entry: An Example from the Banking Industry," CSEF Working Papers 85, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
Other versions:
- Bouckaert, J. & Degryse, H., 2002. "Softening competition by enhancing entry: : an example from the banking industry," Discussion Paper 86, Tilburg University, Center for Economic Research. [Downloadable!]
- Bouckaert, Jan & Degryse Hans, 2002. "Softening Competition by Enhancing Entry: An Example from the Banking Industry," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Eric Van Tassel, 2009. "Sharing credit information under endogenous costs," Working Papers 09004, Department of Economics, College of Business, Florida Atlantic University. [Downloadable!]
Claeys, Sophie & Hainz, Christa, 2007. "Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates," Working Paper Series 210, Sveriges Riksbank (Central Bank of Sweden). [Downloadable!]
Other versions:
- Sophie Claeys & Christa Hainz, 2006. "Acquisition versus greenfield: The impact of the mode of foreign bank entry on information and bank lending rates," Discussion Papers 182, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
- Sophie Claeys & Christa Hainz, 2006. "Acquisition versus greenfield - the impact of the mode of foreign bank entry on information and bank lending rates," Working Paper Series 653, European Central Bank. [Downloadable!]
Hainz, Christa, 2007. "Creditor Passivity: The Effects of Bank Competition and Institutions on the Strategic Use of Bankruptcy Filings," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Other versions:
- Hainz, Christa, 2007. "Creditor Passivity: The Effects of Bank Competition and Institutions on the Strategic Use of Bankruptcy Filings," Discussion Papers in Economics 2028, University of Munich, Department of Economics. [Downloadable!]

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