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Relations de crédit de long terme et structure des marchés bancaires locaux

  • Nicolas Eber
  • Claude Jessua

[eng] Long-term credit relationships and the structure of local banking markets This paper provides a spatial competition model of the banking sector, in which banks and firms can endure long-term relationships. We show that the fraction of borrowers with long-term contracts depends negatively on the number of banks. Considering sunk costs, we then show that the existence of long-term contracts leads to a decrease in the equilibrium number of banks. [fre] Cet article présente un modèle de concurrence spatiale du secteur bancaire, dans lequel les banques et les entreprises peuvent engager des relations de cré­dit de long terme. On montre que la proportion des emprunteurs ayant recours à des contrats de long terme dépend négativement du nombre de banques. En considérant l'existence de coûts fixes non récupérables, on montre ensuite que la présence de contrats de long terme dans l'économie implique un accroissement de la concentration du marché bancaire.

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Article provided by Programme National Persée in its journal Revue économique.

Volume (Year): 47 (1996)
Issue (Month): 3 ()
Pages: 755-764

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Handle: RePEc:prs:reveco:reco_0035-2764_1996_num_47_3_409813
Note: DOI:10.3406/reco.1996.409813
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  1. Besanko, David & Thakor, Anjan V., 1992. "Banking deregulation: Allocational consequences of relaxing entry barriers," Journal of Banking & Finance, Elsevier, vol. 16(5), pages 909-932, September.
  2. André Grimaud & Jean-Charles Rochet, 1994. "L'apport du modèle de concurrence monopolistique à l'économie bancaire," Revue Économique, Programme National Persée, vol. 45(3), pages 715-726.
  3. Robert M. Townsend, 1979. "Optimal contracts and competitive markets with costly state verification," Staff Report 45, Federal Reserve Bank of Minneapolis.
  4. Douglas W. Diamond, 1998. "Reputation Acquisition in Debt Markets," Levine's Working Paper Archive 602, David K. Levine.
  5. Douglas Gale & Martin Hellwig, 1985. "Incentive-Compatible Debt Contracts: The One-Period Problem," Review of Economic Studies, Oxford University Press, vol. 52(4), pages 647-663.
  6. David C. Webb, 1992. "Two-Period Financial Contracts with Private Information and Costly State Verification," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 1113-1123.
  7. Hannan, Timothy H., 1991. "Bank commercial loan markets and the role of market structure: evidence from surveys of commercial lending," Journal of Banking & Finance, Elsevier, vol. 15(1), pages 133-149, February.
  8. Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring.
  9. Mayer, Colin, 1988. "New issues in corporate finance," European Economic Review, Elsevier, vol. 32(5), pages 1167-1183, June.
  10. Osborne, Dale K., 1988. "Competition and geographical integration in commercial bank lending," Journal of Banking & Finance, Elsevier, vol. 12(1), pages 85-103, March.
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