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This paper examines the relationship between competition in the banking industry and liquidity that banks provide. Using a panel dataset of commercial banks in 25 OECD countries during the period 2000-2010, we find that banks provide more liquidity as the banking industry becomes more concentrated. The result is robust even after controlling for endogeneity issues and after using the Lerner index as a proxy of market power. In addition, large banks increase liquidity supply in the concentrated market, while small banks do not show significant results.
목차
Abstract
1. Introduction
2. Literature Review
3. Data and variables
3.1 Data
3.2 Competition measures
3.3 Bank liquidity supply measures
4. Methodology
4.1 Regression model
5. Empirical Results
5.1 Does competition in the banking industry have an impact on liquidity that a bank provides?
5.3 Does the relationship hold after controlling for the endogeneity problem?
6. Robustness checks
6.1 Before and after the 2008 financial crisis
6.2 Funding structure: banks with excessive short-term wholesale funds
6.3 The US vs. non-US countries: removing the effects of the US
7. Conclusion
References
Figure
Table
1. Introduction
2. Literature Review
3. Data and variables
3.1 Data
3.2 Competition measures
3.3 Bank liquidity supply measures
4. Methodology
4.1 Regression model
5. Empirical Results
5.1 Does competition in the banking industry have an impact on liquidity that a bank provides?
5.3 Does the relationship hold after controlling for the endogeneity problem?
6. Robustness checks
6.1 Before and after the 2008 financial crisis
6.2 Funding structure: banks with excessive short-term wholesale funds
6.3 The US vs. non-US countries: removing the effects of the US
7. Conclusion
References
Figure
Table
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