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Efficience du système bancaire, structure du marché de crédit et activité économique

Listed author(s):
  • Nicolas Eber

[fre] Les systèmes financiers allemand et japonais, « orientés banque », sont caractérisés par la domination d'un petit nombre de grandes banques. Malgré la forte concentration du marché bancaire, il est souvent défendu que ces systèmes financiers sont efficaces et bénéfiques à l'activité économique. L'objet de cet article est d'expliquer pourquoi un secteur bancaire fortement concentré n'est pas incompatible avec des niveaux élevés d'investissement et d'activité. Pour cela, nous partons d'une version simplifiée du modèle de concurrence bancaire spatiale proposé par Sussman [1993]. Nous montrons qu'un système bancaire plus efficient accroît simultanément la concentration du marché de crédit et le niveau de l'activité économique. De plus, un système bancaire efficient rend l'économie moins sensible aux chocs réels et monétaires. Notre modèle met donc en évidence le rôle de la structure du marché bancaire dans la propagation des chocs macroéconomiques. [eng] Banking system efficiency, loan market structure and economic activity German and Japanese ("bank-oriented") financial systems are featured by the dominance of a small number of large banks. Despite the high concentration of the banking market, it is often argued that such financial systems are efficient and good for the economic activity. The purpose of the present paper is to justify that a highly concentrated banking sector is not incompatible with high levels of investment and activity. To do that, we use a slightly simplified version of Sussman's [1993] model of spatial banking competition. We show that a more efficient banking system increases simultaneously the concentration of the loan market and the level of activity. Moreover, it also makes the economy less sensitive to real or monetary shocks since it reduces the intensity of the credit channel in the propagation of such shocks.

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

Volume (Year): 51 (2000)
Issue (Month): 6 ()
Pages: 1333-1353

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Handle: RePEc:prs:reveco:reco_0035-2764_2000_num_51_6_410588
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