我国中小银行市场可竞争性研究
|
摘要
中小企业融资难问题与中小企业信贷的“小银行优势”——关系借贷，说明两者应该存在天然联系，然而目前我国的现实情况是：中小银行不仅在数量上严重匮乏，而且自身问题重重，也不太愿意开拓中小企业信贷市场，中小企业信贷市场陷入一种静态无效均衡，那么如何打破这种均衡状态，提高信贷配置效率，在畅通中小企业的融资渠道的同时，增强银行体系自身核心竞争力呢?本文试图从增强中小银行业市场可竞争程度的角度给出一种解决方法，进而给出构建我国中小银行可竞争市场的总体思路。
论文首先建立理论模型得出：中小银行向中小企业开展关系借贷从而发挥“小银行优势”要求一个可竞争性的中小银行市场；然而对我国一个省辖区域的局部经验检验表明：我国区域性中小银行市场并非可竞争性市场，而且市场可竞争程度相当低，近似于完全垄断。于是理论与实证相互验证了目前我国中小银行与中小企业信贷市场困境根源于中小银行供给不足所导致的缺乏有效市场竞争，因此不能激发中小银行对贷款监督甄别的激励，开展关系借贷。而我国中小银行市场并非可竞争性市场的原因在于：中小银行没有市场化的进入——退出机制。于是为了构建可竞争性的中小银行市场，本文先后提出了三方面的措施并加以论证，包括：一个资本要求的市场准入方法、一个部分存款保险制度的市场退出机制设计以及限定中小银行经营区域(业务范围)、设置中小银行存款利率上限等两种过渡性辅助监管工具。
最后对我国中小银行目前的改革进行评述，并结合全篇的理论实证分析制定出我国构建中小银行可竞争市场的包括改革的目标策略和具体措施等总体思路，那就是：逐步放松一切对中小银行不合理的市场准入退出的行政管制，分对象、分阶段的以差别化资本管理和资本监管为核心，通过加强中小银行经营的事前、事中和事后资本管理，在适当时候建立部分存款保险制度，并限定经营区域(业务范围)、设定存款利率上限等监管措施加以配套，在体系逐步成熟完善、中小银行总体质量有所提高后，逐步取消阶段性的配套措施并统一较高的资本要求标准，推行进入——退出市场化程度较高的中小银行资本管理和监管体系。
The financing difficulties of Small and medium enterprises (SMEs) and its "small bank advantage" which is called relationship loans have explained that they have natural connection. While the current situation of China is as follows: The small and medium banks ( SMBs ), besides its lack in quantity, have their own difficulties. The SMBs are not willing to explore the SMEs credit market. The credit market for SMEs plunges into a kind of static and inefficiency equilibrium, and it turns to be a problem to learn how to break this kind of equilibrium, improve the credit allocative efficiency to ensure the smooth financing channel for the SMEs, and strengthen the core competitive power of banking system. This paper tries to give such solution from the point of strengthening market contestable degree of SMBs, then give the whole idea of small and medium banking contestable market for China.
This paper first set up a theory model and makes the conclusion that: SMBs requires a contestable SMB market to exert the "small bank advantage" and provide relationship loans for the SMEs; but according to the regional empirical analysis of one province in China, our regional SMBs market isn't a contestable market, and the contestable degree of this market is relatively low, near to a complete monopoly situation. Then the theory and the empirical analysis have both explained that the dilemma of SMBs and SMEs credit market comes from the lack of efficient market competition brought by the supply deficiency of SMBs. So it cannot stimulate the SMBs to take loans supervision and develop the relationship financing. The reason why our SMBs market is not a contestable market is that our SMBs have no marketable entry-exit system. In order to set up a contestable SMBs market, this paper then promotes several measures and does the related explanation. It includes: market entry method of capital requirement; market exit mechanism design of partly deposit insurance system; and another two helping supervision methods: limit the business scope of SMBs; set the upper limit of deposit interest rate.
Finally, combining with the whole theory and empirical analysis in this paper, the author gives the general planning for the construction and reform of small and medium banking contestable market in China, which includes the target, strategic process and detail measures. That is: relax the irrational administrative and monopolistic control on market entry of small and medium banking step by step; circled with different capital management and supervision on different steps to
different target; enhance the capital management beforehand, afterwards and during the business of medium banks; set up partly deposit insurance system on appropriate timing; and limit the business area (business scope), set up the upper limit of deposit interest rate and other supervision matching measures. After the gradual maturity of this system, we should gradually eliminate matching measures on a certain phase, and push the capital management and supervision system of small and medium banking with high degree of marketability.
论文首先建立理论模型得出：中小银行向中小企业开展关系借贷从而发挥“小银行优势”要求一个可竞争性的中小银行市场；然而对我国一个省辖区域的局部经验检验表明：我国区域性中小银行市场并非可竞争性市场，而且市场可竞争程度相当低，近似于完全垄断。于是理论与实证相互验证了目前我国中小银行与中小企业信贷市场困境根源于中小银行供给不足所导致的缺乏有效市场竞争，因此不能激发中小银行对贷款监督甄别的激励，开展关系借贷。而我国中小银行市场并非可竞争性市场的原因在于：中小银行没有市场化的进入——退出机制。于是为了构建可竞争性的中小银行市场，本文先后提出了三方面的措施并加以论证，包括：一个资本要求的市场准入方法、一个部分存款保险制度的市场退出机制设计以及限定中小银行经营区域(业务范围)、设置中小银行存款利率上限等两种过渡性辅助监管工具。
最后对我国中小银行目前的改革进行评述，并结合全篇的理论实证分析制定出我国构建中小银行可竞争市场的包括改革的目标策略和具体措施等总体思路，那就是：逐步放松一切对中小银行不合理的市场准入退出的行政管制，分对象、分阶段的以差别化资本管理和资本监管为核心，通过加强中小银行经营的事前、事中和事后资本管理，在适当时候建立部分存款保险制度，并限定经营区域(业务范围)、设定存款利率上限等监管措施加以配套，在体系逐步成熟完善、中小银行总体质量有所提高后，逐步取消阶段性的配套措施并统一较高的资本要求标准，推行进入——退出市场化程度较高的中小银行资本管理和监管体系。
The financing difficulties of Small and medium enterprises (SMEs) and its "small bank advantage" which is called relationship loans have explained that they have natural connection. While the current situation of China is as follows: The small and medium banks ( SMBs ), besides its lack in quantity, have their own difficulties. The SMBs are not willing to explore the SMEs credit market. The credit market for SMEs plunges into a kind of static and inefficiency equilibrium, and it turns to be a problem to learn how to break this kind of equilibrium, improve the credit allocative efficiency to ensure the smooth financing channel for the SMEs, and strengthen the core competitive power of banking system. This paper tries to give such solution from the point of strengthening market contestable degree of SMBs, then give the whole idea of small and medium banking contestable market for China.
This paper first set up a theory model and makes the conclusion that: SMBs requires a contestable SMB market to exert the "small bank advantage" and provide relationship loans for the SMEs; but according to the regional empirical analysis of one province in China, our regional SMBs market isn't a contestable market, and the contestable degree of this market is relatively low, near to a complete monopoly situation. Then the theory and the empirical analysis have both explained that the dilemma of SMBs and SMEs credit market comes from the lack of efficient market competition brought by the supply deficiency of SMBs. So it cannot stimulate the SMBs to take loans supervision and develop the relationship financing. The reason why our SMBs market is not a contestable market is that our SMBs have no marketable entry-exit system. In order to set up a contestable SMBs market, this paper then promotes several measures and does the related explanation. It includes: market entry method of capital requirement; market exit mechanism design of partly deposit insurance system; and another two helping supervision methods: limit the business scope of SMBs; set the upper limit of deposit interest rate.
Finally, combining with the whole theory and empirical analysis in this paper, the author gives the general planning for the construction and reform of small and medium banking contestable market in China, which includes the target, strategic process and detail measures. That is: relax the irrational administrative and monopolistic control on market entry of small and medium banking step by step; circled with different capital management and supervision on different steps to
different target; enhance the capital management beforehand, afterwards and during the business of medium banks; set up partly deposit insurance system on appropriate timing; and limit the business area (business scope), set up the upper limit of deposit interest rate and other supervision matching measures. After the gradual maturity of this system, we should gradually eliminate matching measures on a certain phase, and push the capital management and supervision system of small and medium banking with high degree of marketability.
引文
[1] Allen, L., A. Saunders, and G.F. Udell, 1991, The pricing of retail deposits: Concentration and information. Journal of Financial Intermediation 1,335-361.
[2] Amel, Dean F., and Nellie Liang, 1997, Determinants of entry and profits in local banking markets, Review of Industrial Organization 12,59-78.
[3] Amel, Dean, 1993, State Laws Affecting the Geographic Expansion of Commercial Banks, Unpublished manuscript, Board of Governors of the Federal Reserve System,
[4] Anand, B. N., and A. Galetovic, 2001, Does Competition Kill Relationships? Inside Investment Banking, Harvard University, Boston MA.
[5] Aoki, M., 1994, Monitoring Characteristics of the Main Bank System: An Analytical and Developmental View, in M. Aoki, and H. Patrick, eds.: The Japanese Main Bank System. Oxford University Press, Oxford.
[6] Avery, R.B., Bostic, R.W. & Samolyk, K.A., 1998, The Role of Personal Wealth in Small Business Finance, Journal of Banking and Finance, 22, pp. 1019-1061.
[7] Riordan, M.H. and Kyle, B., 1991, High declining prices signal product quality, American Economic Review 81, 224-239
[8] Bain, 1951, Relation of Profit Rate to Industry Concentration: American Manufacturing, 1936 — 1940, Quarterly Journal of Economics Vol. 65.
[9] Bain, J., 1956, Barriers to New Competition, Harvard University Press, Cambridge, Mass. [10] Bain, 1958, Industrial Organization, New York: Wiley.
[11] Banerjee, A.V., Besley, T., Guinnane, T.W., 1994, Thy neighbor's keeper: The design of a credit cooperative with theory and a test, Quarterly Journal of Economics 109, 491-515.
[12] Barajas, A., Steiner, R., and Salazar, N., 2000, The impact of liberalization and foreign investment in Colombia's financial sector, Journal of Developing Economics, 63,157-196.
[13] Barbosa, E. & Moraes, C., 2003, Determinants of the Firm's Capital Structure: the Case of the Very Small Enterprises, Working Paper from Econpapers.
[14] Bassett Bill and Brady Tom, 2002, What Drives the Persistent Competitiveness of Small Banks? Working Paper.
[15] Baumol, W.J. 1982, Contestable markets: An uprising in the theory of industry structure, Americam Economic Review, 72,1-15.
[16] Baumol, W.J., Panzar, J.C. and Willig, R.D. 1982, Contestable markets and the theory of industry structure. Harcourt Brace Jovanovich, San Diago.
[17] Baumol, 1988, Contestable Markets and The Theory of Industry Structure, Revised Edition, Harcourt Breace Jovanovich Inc.
[18] Beck, T., Demirguc-Kunt, A. and Levine, R., 2003, Banking Crises and Bank Concentration, mimeo, April.
[19] Beck, Thorsten, Asli Demirgu¨c-Kunt, and Vojislav Maksimovic, 2004, Bank Competition and Access to Finance: International Evidence, Journal of Money, Credit, and Banking 36, 627-648.
[20] Belaisch, A.J., 2003, Do Brazilian banks compete? International Monetary Fund, Working Paper, 3-113.
[21] Berger, A.N., Kashyap, A.K, Scalise, J.M., 1995, The transformation of the U.S. banking industry: What a long, strange trip it's been, Brookings Papers on Economic Activity, 2, 55-218.
[22] Berger, A. N. and G.F. Udell, 1992, Some evidence on the empirical significance of credit rationing, Journal of Political Economy 100,1047-1077.
[23] Berger, Allen N., Leora F. Klapper and Gregory F. Udell, 2001, The Ability of Banks to Lend to Informationally Opaque Small Businesses, mimeo, World Bank.
[24] Berger, A. N., R. Demsetz, and P. Strahan, 1999, The Consolidation of the Financial Services Industry: Causes, Consequences, and Implications for the Future, Journal of Banking and Finance 23,135-194.
[25] Berger, A. N., N. M. Miller, M. A. Petersen, R. G. Rajan, and J. C. Stein, 2002, Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks, Board of Governors of the Federal Reserve System, Washington DC.
[26] Berger, A. N., Rosen, R. J. &Udell, G. F., 2001, The Effect of Market Size Structure on Competition: The Case of Small Business Lending, Board of Governors of the Federal Reserve System, Working Paper.
[27] Berger, A. N., Saunders, A., Scalise, J. M. & Udell, G. F.,1998, The Effect of Bank Mergers and Acquisitions on Small Business Lending, Journal of Financial Economics, 50, pp. 187-229.
[28] Berger, A. N., R. J. Herring, and G. P. Szego, 1995, The Role of Capital in Financial Institutions, Journal of Banking and Finance 19, 257-276.
[29] Berger, A. N. &Udell, G. F., 2002, Small Business Credit Availability and Relationship Lending: the Importance of Bank Organizational Structure, Economic Journal, 112 (477), pp. 32-54.
[30] Berger, A. N. &Udell, G. F., 1998, The Economics of Small Business Finance: the Role of Private Equity and Debt Markets in the Financial Growth Cycle, Journal of Banking and Finance, 22, pp.613-673.
[31] Berger, A. N. &Udell, G. F., 1990, Collateral, Loan Quality, and Bank Risk, Journal of Monetary Economics, 25, pp. 21-42.
[32] Berlin, M. and L.J. Mester, 1997, Why is the banking sector shrinking? Core deposits and relationship lending, Working Paper #96-18R, Federal Reserve Bank of Philadelphia.
[33] Berlin, M. and L.J. Mester, 1998, On the profitability and cost of relationship lending, Journal of Banking and Finance 22.
[34] Bernanke, B. S. &Gertler, M., 1995, Inside the Black Box: The Credit Channel of Monetary Policy Transmission, Journal of Economic Perspective, 9, pp. 27-48.
[35] Besanko, D., &Thakor, A., 1987, Collateral and Rationing: Sorting Equilibrium in Monopolistic and Competitive Markets, International Economic Review 28,671-689.
[36] Besanko, D. and G. Kanatas, 1996, The Regulation of Bank Capital: Do Capital Standards Promote Bank Safety? Journal of Financial Intermediation 5,160-183.
[37] Bester, H., 1985, Screening Versus Rationing in Credit Markets with Imperfect Information, American Economic Review 75, 850-855.
[38] Bester, H., 1987, The Role of Collateral in Credit Markets with Imperfect Information, European Economic Review, 31, 887-899.
[39] Bhattacharya, S., Boot, A, 1998, The economics of bank regulation, Journal of Money Credit and Banking, 30,745-770.
[40] Bhattacharaya, S., and Chiesa, G., 1995, Proprietary Information, Financial Intermediation, and Research Incentives, J. Finan. Intermed, 4,328-357.
[41] Bhattacharaya, S., and Thakor, A. V., 1993, Contemporary Banking Theory, J. Fina. Intermed, 3,2-50.
[42] Bill Bassett and Tom Brady, 2002, What Drives the Persistent Competitiveness of Small Banks? Working Paper.
[43] Billett, M.T., M.J. Flannery and J.A. Garfinkel, 1995, The effect of lender identity on a borrowing firm's equity return, Journal of Finance 50,699-718.
[44] Bikker, J.A., and Groeneveld, J.M., 2000, Competition and concentration in the EU banking industry, Kredit and Kapital, 33, 62-98.
[45] Bikker, J.A. and Haaf, K, 2000a, Competition, concentration and their relationship: An empirical analysis of the banking industry, Financial Structure, Bank Behaviour and Monetary Policy in the EMU Conference, October 5-6, Groningen.
[46] Bikker, J.A. and Haaf, K., 2000b, Measures of competition and concentration in the banking industry: A review of the literature, De Nederlandsche Bank, Research Series Supervision, No. 27, September.
[47] Black, S. E., and P. E. Strahan, 2002, Entrepreneurship and Bank Credit Availability, Journal of Finance 57, 2807-2834.
[48] Bodenhorn, H., 2003, Short-Term Loans and Long-Term Relationships: Relationship Lending in Early America, Journal of Money, Credit, and Banking 35,485-505.
[49] Bonaccorsi di Patti, E., and G. Dell'Ariccia, 2004, Bank Competition and Firm Creation, Journal of Money.Credit, and Banking 36, 225-252.
[50] Boot, A., and A. Thakor, 1994, Moral Hazard and Secured Lending in an Infinitely Repeated Credit Market Game, International Economic Review 35,899-920.
[51] Boot. A., and Thakor A., 1993, Self-interested Bank Regulation, American Economic Review, vol. 83; 2: 206-12.
[52] Boot, A., S. Greenbaum, and A. Thakor, 1994, Reputation and Discretion in Financial Contracting, The American Economic Review, vol.83; 5: 1165-83.
[53] Boot, A.W.,1999, Relationship Banking: What Do We Know? Journal of Financial Intermediation.
[54] Boot, A.W. and Thakor, A.V.,2000, Can relationship banking survive competition? Journal of Finance 55, 679-713.
[55] Boot A.W., Thakor A.V., 1997, Financial System Architecture, Review of Financial Studies, vol. 10; 3: 693-733.
[56] Boutillier, M., Gaudin, J. and Grandperrin, S., 2004, La situation concurrentielle des principaux secteurs bancaires Europeens entre 1993 et 2000: Quels enseignements pour la future structure des marches financiers issue de l' uem ? http://www.banque-France.fr/gb/fondatio/papers.
[57] Boyd, John H, and Gianni DeNicolo, 2005, Bank risk taking and competition revisited, Journal of Finance 60, Forthcoming.
[58] Bresnahan, T.F., 1982, The oligopoly solution concept is identified, Economic Letters, 10, 87-92.
[59] Bresnahan, T.F., 1989, Empirical studies in industries with market power, Handbook of Industrial Organisation, Vol. II, 1011-1058.
[60] Broecker, Thorsten, 1990, Credit-worthiness tests and interbank competition, Econometrica 58,429-452.
[61] Caminal, R., and C. Matutes, 2002, Market Power and Banking Failures, International Journal of Industrial Organization 20,1341-1361.
[62] Campbell,T.S. ,&Kracaw,W., 1980, Information Production, Market Signalling, and the Theory of Financial Intermediation, Journal of Finance, 35, pp. 863-882.
[63] Capie, F. and G. Rodrik-Bali, 1982, Concentration in British Banking, 1870-1920, Business History, 24,280-292.
[64] Cetorelli, Nicola, and Pietro F. Peretto, 2000, Oligopoly Banking and Capital Accumulation, Federal Reserve Bank of Chicago, December.
[65] Cetorelli, N., 2001, Does Bank Concentration Lead to Concentration in Industrial Sectors, Federal Reserve Bank of Chicago, Chicago.
[66] Cetorelli, N., 2003a, Bank Concentration and Competition in Europe, Federal Reserve Bank of Chicago, Chicago.
[67] Cetorelli, N., 2003b, life-Cycle Dynamics in Industrial Sectors: The Role of Banking Market Structure, Review of the Federal Reserve Bank of St. Louis 85,135-147.
[68] Cetorelli, N., and P. Strahan, 2003, Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets, Wharton Financial Institutions Center, Philadelphia.
[69] Chiapori, P.A., D. Perez-Castrillo, and E. Verdier, 1995, Spatial Competition in the Banking System, Localization, Cross-subsidies and the Regulation of Interest Rates, European Economic Review, vol 39; 5:889-919.
[70] Claessens, S. and D. Klingebiel, 2000, Competition and Scope of Activities in Financial Services, Washington D.C.: World Bank, mimeo, April.
[71] Claessens, S., and Luc Laeven, 2003, What Drives Bank Competition? Some International Evidence, Journal of Money, Credit, and Banking Forthcoming.
[72] Claessens, S., Demirguc-Kunt, A.and Huizinga, H., 2001, How does foreign entry affect domestic banking markets? Journal of Banking and Finance, 25,891-911.
[73] Cohen, Jon, 1967, Financing industrialization in Italy, 1894-1914, Journal of Economic History 27,363-382.
[74] Corvoisier, S., and R. Gropp, 2001, Contestability, Technology, and Banking, European Central Bank, Frankfurt.
[75] Coccorese, P., 2004, Banking competition and macroeconomic conditions: A disaggregate analysis, Journal of Financial Markets, Institutions and Money, 14,203-219.
[76] Cole, Rebel A., John D. Wolken, and R. Louise Woodburn, 1996, Bank and Nonbank Competition for Small Business Credit: Evidence from the 1987 and 1993 National Surveys of Small Business Finances, Federal Reserve Bulletin, November.
[77] Cordella, Tito, and Eduardo Levy Yeyati, 2002, Financial opening, deposit insurance, and risk in a model of banking competition, European Economic Review 46,471-485.
[78] De Bandt, O. and Davis, P., 2000, Competition, contestability and market structure in European banking sectors on the eve of EMU, Journal of Banking and Finance, 24, 1045-1066.
[79] Degryse and Ongena, 2004, The impact of competition on bank orientation and specialization, Working Paper.
[80] Degryse, H., and S. Ongena, 2004, Distance, Lending Relationships, and Competition, Journal of Finance Forthcoming.
[81] Dell'Ariccia, G. (2000), "Learning by Lending, Competition, and Screening Incentives in the Banking Industry", Mimeo, IMF.
[82] Dell'Ariccia, G., and R. Marquez, 2003, Information and Bank Credit Allocation, Journal of Financial Economics Forthcoming.
[83] Demirguc-Kunt, A. and E. Detragiache, 2002, Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation, Journal of Monetary Economics, forthcoming.
[84] Demsetz, H., 1982, Barriers to Entry, American Economic Review, Vol.72, pp.47-57.
[85] Demsetz, Rebecca S., Saidenberg, Marc R. and Strahan, Philip E, 1996, Banks with Something To Lose: The Disciplinary Role of Franchise Value, Federal Reserve Bank of NewYork Economic Policy Review, 2(2), pp. 1-14.
[86] Dewatripont, M., and E. Maskin, 1995, Credit and efficiency in centralized and decentralized economies, Review of Economic Studies 62,541-555.
[87] Dewatripont, M., and Tirole, J., 1994, The Prudential Regulation of Banks, Cambridge, Mass: MIT Press.
[88] Diamond, Douglas, and Philip Dybvig, 1983, Bank Runs, Deposit Insurance, and Liquidity, Journal of Political Economy 91, 401-419.
[89] Diamond, Douglas W., and Raghuram G. Rajan, 2000, A theory of bank capital, The Journal of Finance 55, 2431-2464.
[90] Diamond, Douglas W., 1984, Financial Intermediation and Delegated Monitoring, Rev. Econ.Stud., 51(3), pp. 393-414.
[91] Diamond, D.W., 1997, Liquidity, Banks, and Markets, Journal of Political Economy, vol 105; 5: 928-956.
[92] Diamond, Douglas W., 1991, Monitoring and reputation: The choice between bank loans and directly placed debt, Journal of Political Economy 99, 689-721.
[93] Dinc, I., 2000, Bank Reputation, Bank Commitment, and the Effects of Competition in Credit Markets, Review of Financial Studies 13,781-812.
[94] Drakos, K. and Konstantinou, P., 2001, Competition and contestability in transition banking: An empirical analysis. EEFS Conference, Heraklion, Crete.
[95] Elsas, R., 2004, Empirical Determinants of Relationship Lending, Journal of Financial IntermediationForthcoming.
[96] Ennis, Huberto M., 2001, On the Size Distribution of Banks, Economic Quarterly, Volume 87, No. 4, Federal Reserve Bank of Richmond.
[97] ErkkiKoskela &Rune Stenacka, Is there a tradeoff between bank competition and financial fragility ? Journal of Banking & F inance 24,1853-1873.
[98] Fama, Eugene, 1985, What's different about banks? Journal of Monetary Economics 15, 29-36.
[99] Fischer, K. H., 2000, Acquisition of Information in Loan Markets and Bank Market Power: An Empirical Investigation, Johann Wolfgang Goethe University Frankfurt, Frankfurt.
[100] Freixas, X. and Rochet, J.C.,1997, Microeconomics of Banking, Cambridge, MA: MIT Press.
[101] Gale, D., and M. Hellwig, 1985, Incentive Compatible Debt Contracts: The Oneperiod Problem, Review of Economic Studies, L11: 647-63.
[102] Garcia, G.G.H., 1999, Deposit Insurance: A Survey of Actual and Best Practices, IMF Working paper.
[103] Gart, Alan, 1994, Regulation, Deregulation, Reregulation: the Future of the Banking, Insurance, and Securities Industries, John Wiley &Sons, Inc.
[104] Gelfand, M.D. and Spiller, P.T., 1987, Entry barriers and multiproduct oligopolies. International Journal of Industrial Organisation, 5,101-113.
[105] Gelos, R.G. and Roldos, J., 2004, Consolidation and market structure in emerging market banking systems, Emerging Markets Review, 5,39-59.
[106] Gerschenkron, Alexander, 1962, Economic Backwardness in Historical Perspective, A Book of Essays, Cambridge, MA: Harvard University Press.
[107] Gertler, B. S.,M. &Gilchrist, S., 1996, The Financial Accelerator, and the Flight to Quality, Review of Economics and Statistics, 78, pp. 1-15.
[108] Gorton Gary and Andrew Winton, 1998, Banking in Transition Econnomics: Does Efficiency Require Instability? Journal of Money, Credit and Banking, Vol. 30, Part2 .
[109] Gorton, Gary, and Andrew Winton, 1995, Bank Capital Regulation in General Equilibrium, Working Paper no. 5244, National Bureau of Economic Research;
[110] Gorton, Gary, and Andrew Winton, 1997, Liquidity Provision and the Social Cost of Bank Capital, Finance Department Working paper no.236, Northwestern University, October.
[111] Guzman Mark G., 2000a, The Economic Impact of Bank Structure: A Review of Recent Literature, Economic and Financial Review, Second Quarter, 2000.
[112] Guzman Mark G., 2000b, Bank Structure, Capital Accumulation and Growth: A Simple Macroeconomic Model, Economic Theory forthcoming..
[113] Haber Stephan H., 1997, Financial Markets and Industrial Development: A Comparative Study of Governmental Regulation, Financial Innovation and Industrial Structure in Brazil and Mexico, 1840-1940, in: How Latin America Fell Behind? Ed: Stephan Haber, 146-78. Stanford, CA: Stanford University Press.
[114] Haber Stephan H. 1991, Industrial Concentration and Capital Markets: A Comparative Study of Brazil, Mexico and the United States, 1830-1930, Journal of Economic History, September, 51(3), 559-80.
[115] Hannan, T.H., and A.N. Berger, 1991, The Rigidity of Prices: Evidence from the Banking Industry. American Economic Review 81, 938-945.
[116] Hannan, T. H., 1991, Bank Commercial Loan Markets and the Role of Market Structure: Evidence fromSurveys of Commercial Lending, Journal of Banking and Finance 15, 133-149.
[117] Harhoff, D., Korting, T.,1998, Lending Relationship in Germany-Empirical Evidence from Survey Data, Journal of Banking and Finance, Vol.22,1317-1353.
[118] Hart, O., 1995, Debt and Seniority: An Analysis of the Role of Hard Claims in Constraining Management, American Economics Review, 85:567-85.
[119] Hauswald, R., and R. Marquez, 2003a, Competition and Strategic Information Acquisition in Credit Markets, University of Maryland, College Park MD.
[120] Hauswald, R., and R. Marquez, 2003b, Information Technology and Financial Services Competition, Reviewof Financial Studies 16, 921-948.
[121] Hellman Thomas F.& Murdock Kevin C. & Stiglitz Joseph E., 2000, Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough? American Economic Review, Vol. 90 (1) pp. 147-165.
[122] Hellwig, M., 1991, Banking, financial intermediation and corporate finance, in A.Giovannini and C. Mayer Eds. European Financial Integration, Cambridge: Cambridge University Press.
[123] Hempell, H.S., 2002, Testing for competition among German banks, Economic Research Centre, Deutsche Bundesbank, Discussion Paper 04/02.
[124] Holmstrom, Bengt and Tirole, Jean. "Market Liquidity and Performance Monitoring," J.Polit. Econ., Aug. 1993, 101(4), pp. 678-709.
[125] Hondroyiannis, G., Lolos, S. and Papapetrou, E., 1999, Assessing competitive conditions in the Greek banking system, Journal of International Financial Markets, Institutions and Money, 9,377-391.
[126] Honohan, Patrick, and Stiglitz, Joseph, 1999, Restoring Banking Stability: Beyond Supervised Capital RequirementsJournal of Economic Perspectives, Vol. 13, No. 4, pp. 43-64
[127] Horvitz, P., 1983, The case against risk-related deposit insurance premiums. Housing Finance Review.
[128] Huertas, T. F., Strauber, R.L., 1986, Deposit insurance: overhaul or tune-up? Issues in Bank Regulation, Winter.
[129] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1990a, Bank monitoring and investment: Evidence from the changing structure of Japanese corporate banking relationships, in R. Glenn Hubbard, ed.: Asymmetry Information, Corporate Finance and Investment, University of Chicago Press, Chicago.
[130] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1990b, The role of banks in reducing the costs of financial distress in Japan, Journal of Financial Economics 27, 67-88.
[131] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1991, Corporate structure, liquidity and investment: Evidence from Japanese industrial groups, Quarterly Journal of Economics 106, 33-60.
[132] Hotelling, H., 1929, Stability in Competition, Economic Journal 39,41-45.
[133] IMF, 1984, A Guide to Money and Banking Statistics in International Financial Statistics.
[134] Jayaratne Jith and Wolken John, 1999, How important are small banks to small business lending? New evidence from a survey of small firms, Journal of Banking and finance, 23, pp. 427-458.
[135] Jiang, G., Wong, J., Tang, N. and Sze, A., 2004, Banking sector competition in Hong Kong -Measurement and evolution over time, Hong Kong Monetary Authority, 30 April.
[136] Kane, E.J., 1985, The gathering crisis in federal deposit insurance, .MIT Press, Cambridge, MA.
[137] Kane, E.J., 1986, Appearance and reality in deposit insurance, Journal of Banking and Finance,10.
[138] Keeley, M.C., 1990, Deposit insurance, risk and market power in banking. American Economic Review, 80,1183-1201.
[139] Keeton, W. R., 1995, Multi-office bank lending to small businesses: Some new evidence, Federal Reserve Bank of Kansas City Economic Review 80 (2), 45-57.
[140] Klein, M., 1971, A theory of the banking firm. Journal of Money, Credit, and Banking, 7, 205-218.
[141] Kroszner, Randall S. and Strahan, Philip E. 1999, What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions, Quarterly Journal of Economics, 114(4), pp. 1437-67.
[142] Lau, L., 1982, On identifying the degree of competitiveness from industry price and output data, Economic Letters, 10, 93-99.
[143] Leland, Hayne, and David Pyle, 1977, Information asymmetries, financial structure and financial intermediaries, Journal of Finance 32,371-387.
[144] Levonian, Mark and Jennifer Soller, 1996, Small Banks, Small Loans, Small Business, Federal Reserve Board of San Francisco, Weekly Letter
[145] Lloyd-Williams, D.M., Molyneux, P. and Thornton, J., 1991, Competition and contestability in the Japanese commercial banking market, Institute of European Finance, Research Papers in Banking and Finance, no. 16.
[146] Lummer, Scott and John McConnell, 1989, Further evidence on the bank lending process and the capital market response to bank loan agreements, Journal of Financial Economics 25,99-122.
[147] Mallick, R. &Chakraborty, A., 2002, Credit Gap in Small Business: Some New Evidence, Working Paper from Econpapers.
[148] Masahiko Aoki, Serdar Dinc, 1997, Relational Financing as an Institution and its Viability under Competition, May, working paper
[149] Marinc, M., 2004, Competition and Entry in Banking, Working Paper.
[150] Matutes, C, and Vives X., 1996, Competition for Deposits, Fragility, and Insurance, Journal of Financial Intermediation, vol. 5; 2:184-216.
[151] Matutes, C. and X. Vives.,2000, Imperfect Competition, Risk Taking, and Regulation in Banking, European Economic Review, 44,1-34.
[152] Merton, R.C., 1978, On the Cost of Deposit Insurance When There Are Surveillance Costs, Journal of Business 51,439-452.
[153] Merton, R.C.,1977, An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees, Journal of Banking and Finance 1,512-520.
[154] Meyer, Laurence H., 1998, The Present and Future Roles of Banks in Small Business Finance, Journal of Banking &Finance 22.
[155] Mishkin , F. S., 2001 , The Economics of Money, Banking, and Financial Markets. Harper Collins College Publishers.
[156] Molyneux, P., Lloyd-Williams, D.M. and Thornton, J., 1994, Competitive conditions in European banking. Journal of Banking and Finance, 18,445-459.
[157] Molyneux, P., Thornton, J. and Lloyd-Williams, D.M.,1996, Competition and market contestability in Japanese commercial banking, Journal of Economics and Business, 48, 33-45.
[158] Mooslechner, P. and Schnitzer, Y., 1995, Structure-performance in banking: An application of a typical universal banking system, Applied Industrial Organisation, Kluwer, Dordrecht, 167-186.
[159] Nathan, A. and Neave, E., 1989, Competition and contestability in Canada's financial system: Empirical results, Canadian Journal of Economics, 22,576-594.
[160] Nakamura, Leonard I., 1993, Recent Research in Commercial Banking: Information and Lending, Financial Markets, Institutions and Instruments, vol. 2 pp. 73-88.
[161] Norton, E., 1991, Capital Structure and Small Growth Firms, Journal of Small Business Finance, 1(2), pp. 161-177.
[162] Ongena, S., and D. C. Smith, 2000a, Bank Relationships: a Survey, Cambridge University Press, London.
[163] Ongena, S., and D. C. Smith, 2000b, What Determines the Number of Bank Relationships? Cross-Country Evidence, Journal of Financial Intermediation 9,26-56.
[164] Panzar, J. C, Rosse, J.N., 1982, Structure , Conduct and Comparative Statistics, Bell Laboratories Economic discussion paper No. 248.
[165] Panzar, J.C. and Rosse, J.N., 1987, Testing for monopoly equilibrium, Journal of Industrial Economics, 25, 443-456.
[166] Peek, J., Rosengren, E.S., 1996, Small Business Credit Availability: How Important Is Size of Lender? In: Saunders, A.
[167] Peek Joe &Roengren. Eric S., 1996, Bank Consolidation and Small business Lending: It's not just Bank Size that Matters, Journal of Banking and Finance 22,799-819
[168] Petersen, M. A. &Rajan, R. G., 2002, Dose Distance Still Matter? The Information Revolution in Small Business Lending, The Journal of Finance, 57(6),pp. 2379-2403.
[169] Perotti, E. and J. Suarez, 2003, Last Bank Standing: What do I gain if You Fail? Forthcoming, European Economic Review.
[170] Petersen , M. A. &Rajan, R.G., 1995, The Effects of Credit Market Competition on Firm-creditor Relationships, Quarterly Journal of Economics, 110(2), pp. 407-443.
[171] Petersen M., and R. Rajan, 1994, The Benefits of Lending Relationships: Evidence from Small Business Data, Journal of Finance 49, Issuel: 3-37.
[172] Pyle D.H., 1971, On the Theory of Financial Intermediation, Journal of Finance 26(3), 737-747.
[173] Rajan, R.G. &Winton, A., 1995, Covenants and Collateral as Incentives to Monitor, Journal of Finance, 50, pp. 1113-1146.
[174] Ralf Elsas, 2002, Learning on the Determinants of Relationship Lending, Working paper.
[175] Rochet, J.C, 1992, Capital Requirements and the Behaviour of Commercial Banks, European Economic Review, vol. 36; 5: 1137-70.
[176] Rochet, J.C, and J. Tirole, 1996, Interbank Lending and Systemic Risk, Journal of Money, Credit and Banking, vol. 28;4: 733-62.
[177] Rose, Peter.S., 1996, Commercial Bank Management, McGraw-Hill Companies.
[178] Rosse, J.N. and Panzar, J.C, 1977, Chamberlin vs. Robinson: An empirical test for monopoly rents, Bell Laboratories Economic, Discussion Papers, 90.
[179] Repullo, Rafael, 2004, Capital requirements, market power and risk-taking in banking, Journal of Financial Intermediation 13,156-182.
[180] Repullo, Rafael,and Javier Suarez, 2004, Loan pricing under basel capital requirements, Journal of Financial Intermediation 13, 496-521.
[181] Salas, V., and J. Saurina, 2003, Deregulation, market power and risk behavior in Spanish banks, European Economic Review, 47, pp. 1061-1075.
[182] Salop, S., 1979, Monopolistic Competition with Outside Goods, Bell Journal of Economics 10,141-156.
[183] Salvo, R.D, Ferri,G.,Angelini, P., 1998, Availability and Cost for Small Businesses : Customer Relationship and Credit Cooperatives, Journal of Banking and Finance, 22, 925-954.
[184] Scott, JA., Dunkelberg, W.C., 1999. Bank consolidation and small business lending: A small firm perspective, in Business Access to Capital and Credit, A Federal Reserve System Research Conference, 328-361.
[185] Shaffer, S., 1981b, Empirical test for competitive conduct, Banking Studies Department, Federal Reserve Bank of New York, August.
[186] Shaffer, S., 1982, A non-structural test for competition in financial markets, In: Bank structure and competition, Conference Proceedings, Federal Reserve Bank of Chicago, 225-243.
[187] Shaffer, S.,1985, Competition, economies of scale, and diversity of firm sizes, Applied Economics, 17, 467-476.
[188] Shaffer, S., 1989, Competition in the US banking industry, Economic Letters, 29,323-323.
[189] Shaffer, S., 1993, A test of competition in Canadian banking, Journal of Money, Credit, and Banking, 25,49-61.
[190] Shaffer, S., 2004, Patterns of competition in banking, Journal of Economics and Business, 56,287-313.
[191] Sharpe, S., 1990, Asymmetric Information, Bank Lending and Implicit Contracts: A Market Equilibrium Approach, The Journal of Finance, 45(4), pp. 1069-1087.
[192] Smith, R. and Tripe, D., 2001, Competition and contestability in New Zealand's banking system, Paper presented at the 14th Australian Finance and Banking Conference, Sydney, December.
[193] Stahl, D.O., 1988, Bertrand Competition for Inputs and Walrasian Outcomes, American Economic Review, vol.78; 1:189-201.
[194] Stiglitz, Joseph E., 1985, Credit Markets and the Control of Capital, Journal Money, Credit, Banking, 17(2), pp. 33-52.
[195] Stiglitz, Joseph, and Andrew Weiss, 1981, Credit Rationing in Market with Imperfect Information, American Economic Review 71,393-410.
[196] Strahan, P.E., and J. Weston, 1996, Small business lending and bank consolidation: Is there cause for concern? current issues in Economics and Finance 2, Federal Reserve Bank of New York 2,1-6.
[197] Strahan, P.E., Weston, J.P., 1998, Small Business Lending and the Changing Structure of the Banking Industry, Journal of Banking and Finance, 22, 821-845.
[198] Townsend, R., 1979, Optimal contracts and competitive markets with costly state verification, Journal of Economic Theory, 21,265-93.
[199] Vesala, J., 1995, Testing for competition in banking: Behavioral evidence from Finland, Bank of Finland Studies, El, Bank of Finland.
[200] Vives, Xavier, 2001, Competition in the changing world of banking, Oxford Review of Economic Policy 17,535-547.
[201] Von Thadden, E. L., 1995, Optimal Liquidity Provision and Dynamic Incentive Compatibility, Working paper Centre for Economic Policy Research, European Science Foundation, London.
[202] World Bank, 1998, Preventing Bank Crises; Lessens From Recent Global Bank failure.
[203] Yosha, Oved, 1995, Information disclosure costs and the choice of financing source, Journal of Financial Intermediation 4, 3-20.
[204] Yafeh, Y., and O. Yosha, 2001, Industrial Organization of Financial Systems and Strategic Use of Relationship Banking, European Finance Review 5, 63-78.
[205] Yeyati, E. L. and Micco, A., 2003, Concentration and foreign penetration in Latin American banking sectors: Impact on competition and risk, Inter-American Development Bank, Research Department, Working Paper 499.
[206] Yildirim, H.S. and Philippatos, G.C., 2002, Competition and contestability in Central and Eastern European banking markets, University of Tennessee, Working Paper, September.
[1] 曹敏，何佳，潘启良，金融中介及关系银行—基于广东外资企业银行融资数据的研究[J]．经济研究，2003年第3期：44-53
[2] 程惠霞，国际M & A浪潮与中小银行发展[J]．当代经济科学，2002年第1期：32-39
[3] 程惠霞，中美发展中小银行策略之比较[J]．金融研究，2000年第10期：22-27
[4] 胡小平，中小企业融资[M]．北京：经济管理出版社，2000
[5] 郭斌、刘曼路，民间金融与中小企业的发展[J]．经济研究，2002年第10期：40-47
[6] 樊纲，发展民间金融和金融体制改革，中国经济时报，2000-9-6
[7] 樊纲，克服信贷萎缩与银行体系改革[J]．经济研究，1999年第1期：4-8
[8] 华南金融研究所课题组，民营金融的供给与均衡[J]．华南金融研究，2001年第4期：3-6
[9] 纪敏，中小企业融资的经济分析：非公开融资的作用[N]．证券市场导报，2004年12月8日
[10] 李建国，中国银行业的市场结构与竞争效率[J]．中央财经大学学报，2000年第11期：42-47
[11] 李志斌，银行结构与中小企业融资[J]．经济研究，2002年第6期：38-45
[12] 梁冰，我国中小企业发展及融资状况调查报告[J]．金融研究，2005年第5期：120-138
[13] 林毅夫、李永军，中小金融机构发展与中小企业融资[J]．经济研究，2001年第1期：10-18
[14] 林毅夫、章奇、刘明兴，金融结构与经济增长：以制造业为例[J]．世界经济，2003年第1期：3-21
[15] 牛晓帆，西方产业组织理论的演化与新发展[J]．经济研究，2004年第3期：116-123
[16] 平新乔、蒋国荣，“三角债”的博弈理论分析[J]．经济研究，1994年第1期：65-76
[17] 施蒂格勒，产业组织和政府管制(论文集)[M]．上海人民出版社，1994年。
[18] 史晋川，浙江大学民营经济研究中心咨询研究报告[R]．2003年8月。
[19] 宋立，国家发改委经济研究所课题阶段性成果，2001年。
[20] 唐旭，不良资产、税收与银行准入的开放[J]．经济研究，2005年第7期：66-76
[21] 田晓霞，小企业融资理论及实证研究综述[J]．经济研究，2004年第5期：107-116
[22] 厦门银监局课题组，银行牌照管理研究——兼谈完善我国银行市场准入的政策建议[J]．金融研究，2004年第8期：86-93
[23] 辛树人、向珂，中小企业金融制度的缺陷分析及矫正点选择[J]．金融研究，2004年第7期，60-72
[24] 熊继洲、罗得志，民营银行：台湾的经验与教训[J]．金融研究，2003年第2期：12-21
[25] 徐滇庆，金融改革路在何方—民营银行200问[M]．北京：北京大学出版社，2001。
[26] 徐滇庆，广州市商业银行的前车之鉴[J]．财经，2002第23期：56-63
[27] 易纲，银行不良资产率与地方政府政绩考核[J]．财经，2002年第18期：23-30
[28] 易纲、赵先信，中国的银行竞争：机构扩张、工具创新与产权改革[J]．经济研究，2001年第8期：25-32
[29] 易纲，中小企业融资难的关键是直接融资渠道狭窄，中宏网，2002。
[30] 王霄、张捷，银行信贷配给与中小企业贷款：一个内生化抵押品和企业规模的理论模型[J]．经济研究，2003年第7期：68-75
[31] 王宣喻、储小平，信息披露机制对私营企业融资决策的影响[J]．经济研究，2002年第10期：31-39
[32] 王一江、田国强，中国银行业：改革两难与外资作用[R]．2003年10月
[33] 王自力，银行改革的重点是存量改革[J]．财经，2002年第23期：33-40
[34] 王自力，民营银行准入：目前还宜缓行[J]．金融研究，2002第11期：79-86
[35] 于良春、鞠源，垄断与竞争：中国银行业的改革和发展[J]．经济研究，1999年第8期：48-57
[36] 张春霖，论国有企业的债务问题[J]．改革，1996年第1期：22-33
[37] 张捷，中小企业的关系型借贷与银行组织结构[J]．经济研究，2002年第6期：32-37
[38] 张捷、王霄，中小企业金融成长周期与融资结构变化[J]．世界经济，2002年第9期：63-70
[39] 张杰，民营经济的金融困境与融资秩序[J]．经济研究，2000年第4期：3-10
[40] 张杰，中国金融制度的结构与变迁[M]．山西经济出版社，1999年。
[41] 张杰，中国国有银行的资本金谜团[J]．经济研究，2003年第1期：30-36
[42] 张杰，经济变迁中的金融中介与国有银行[M]．北京：中国人民大学出版社，2003。
[43] 张杰，注资与国有银行改革：一个金融政治经济学的视角[J]．经济研究，2004年第6期：4-14
[44] 赵旭，从信贷市场结构看金融脆弱性与银行竞争的关系[J]．经济科学，2002年第3期：14-21
[45] 中央财经大学课题组，中国地下金融调查[N]．北京现代商报，2005-12-30
[46] 周建松、郭福春，民营经济与地方性商业银行协同发展—浙商银行成立与运行状况引发的思考金融研究[J]．金融研究，2005年第5期：111-119
[2] Amel, Dean F., and Nellie Liang, 1997, Determinants of entry and profits in local banking markets, Review of Industrial Organization 12,59-78.
[3] Amel, Dean, 1993, State Laws Affecting the Geographic Expansion of Commercial Banks, Unpublished manuscript, Board of Governors of the Federal Reserve System,
[4] Anand, B. N., and A. Galetovic, 2001, Does Competition Kill Relationships? Inside Investment Banking, Harvard University, Boston MA.
[5] Aoki, M., 1994, Monitoring Characteristics of the Main Bank System: An Analytical and Developmental View, in M. Aoki, and H. Patrick, eds.: The Japanese Main Bank System. Oxford University Press, Oxford.
[6] Avery, R.B., Bostic, R.W. & Samolyk, K.A., 1998, The Role of Personal Wealth in Small Business Finance, Journal of Banking and Finance, 22, pp. 1019-1061.
[7] Riordan, M.H. and Kyle, B., 1991, High declining prices signal product quality, American Economic Review 81, 224-239
[8] Bain, 1951, Relation of Profit Rate to Industry Concentration: American Manufacturing, 1936 — 1940, Quarterly Journal of Economics Vol. 65.
[9] Bain, J., 1956, Barriers to New Competition, Harvard University Press, Cambridge, Mass. [10] Bain, 1958, Industrial Organization, New York: Wiley.
[11] Banerjee, A.V., Besley, T., Guinnane, T.W., 1994, Thy neighbor's keeper: The design of a credit cooperative with theory and a test, Quarterly Journal of Economics 109, 491-515.
[12] Barajas, A., Steiner, R., and Salazar, N., 2000, The impact of liberalization and foreign investment in Colombia's financial sector, Journal of Developing Economics, 63,157-196.
[13] Barbosa, E. & Moraes, C., 2003, Determinants of the Firm's Capital Structure: the Case of the Very Small Enterprises, Working Paper from Econpapers.
[14] Bassett Bill and Brady Tom, 2002, What Drives the Persistent Competitiveness of Small Banks? Working Paper.
[15] Baumol, W.J. 1982, Contestable markets: An uprising in the theory of industry structure, Americam Economic Review, 72,1-15.
[16] Baumol, W.J., Panzar, J.C. and Willig, R.D. 1982, Contestable markets and the theory of industry structure. Harcourt Brace Jovanovich, San Diago.
[17] Baumol, 1988, Contestable Markets and The Theory of Industry Structure, Revised Edition, Harcourt Breace Jovanovich Inc.
[18] Beck, T., Demirguc-Kunt, A. and Levine, R., 2003, Banking Crises and Bank Concentration, mimeo, April.
[19] Beck, Thorsten, Asli Demirgu¨c-Kunt, and Vojislav Maksimovic, 2004, Bank Competition and Access to Finance: International Evidence, Journal of Money, Credit, and Banking 36, 627-648.
[20] Belaisch, A.J., 2003, Do Brazilian banks compete? International Monetary Fund, Working Paper, 3-113.
[21] Berger, A.N., Kashyap, A.K, Scalise, J.M., 1995, The transformation of the U.S. banking industry: What a long, strange trip it's been, Brookings Papers on Economic Activity, 2, 55-218.
[22] Berger, A. N. and G.F. Udell, 1992, Some evidence on the empirical significance of credit rationing, Journal of Political Economy 100,1047-1077.
[23] Berger, Allen N., Leora F. Klapper and Gregory F. Udell, 2001, The Ability of Banks to Lend to Informationally Opaque Small Businesses, mimeo, World Bank.
[24] Berger, A. N., R. Demsetz, and P. Strahan, 1999, The Consolidation of the Financial Services Industry: Causes, Consequences, and Implications for the Future, Journal of Banking and Finance 23,135-194.
[25] Berger, A. N., N. M. Miller, M. A. Petersen, R. G. Rajan, and J. C. Stein, 2002, Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks, Board of Governors of the Federal Reserve System, Washington DC.
[26] Berger, A. N., Rosen, R. J. &Udell, G. F., 2001, The Effect of Market Size Structure on Competition: The Case of Small Business Lending, Board of Governors of the Federal Reserve System, Working Paper.
[27] Berger, A. N., Saunders, A., Scalise, J. M. & Udell, G. F.,1998, The Effect of Bank Mergers and Acquisitions on Small Business Lending, Journal of Financial Economics, 50, pp. 187-229.
[28] Berger, A. N., R. J. Herring, and G. P. Szego, 1995, The Role of Capital in Financial Institutions, Journal of Banking and Finance 19, 257-276.
[29] Berger, A. N. &Udell, G. F., 2002, Small Business Credit Availability and Relationship Lending: the Importance of Bank Organizational Structure, Economic Journal, 112 (477), pp. 32-54.
[30] Berger, A. N. &Udell, G. F., 1998, The Economics of Small Business Finance: the Role of Private Equity and Debt Markets in the Financial Growth Cycle, Journal of Banking and Finance, 22, pp.613-673.
[31] Berger, A. N. &Udell, G. F., 1990, Collateral, Loan Quality, and Bank Risk, Journal of Monetary Economics, 25, pp. 21-42.
[32] Berlin, M. and L.J. Mester, 1997, Why is the banking sector shrinking? Core deposits and relationship lending, Working Paper #96-18R, Federal Reserve Bank of Philadelphia.
[33] Berlin, M. and L.J. Mester, 1998, On the profitability and cost of relationship lending, Journal of Banking and Finance 22.
[34] Bernanke, B. S. &Gertler, M., 1995, Inside the Black Box: The Credit Channel of Monetary Policy Transmission, Journal of Economic Perspective, 9, pp. 27-48.
[35] Besanko, D., &Thakor, A., 1987, Collateral and Rationing: Sorting Equilibrium in Monopolistic and Competitive Markets, International Economic Review 28,671-689.
[36] Besanko, D. and G. Kanatas, 1996, The Regulation of Bank Capital: Do Capital Standards Promote Bank Safety? Journal of Financial Intermediation 5,160-183.
[37] Bester, H., 1985, Screening Versus Rationing in Credit Markets with Imperfect Information, American Economic Review 75, 850-855.
[38] Bester, H., 1987, The Role of Collateral in Credit Markets with Imperfect Information, European Economic Review, 31, 887-899.
[39] Bhattacharya, S., Boot, A, 1998, The economics of bank regulation, Journal of Money Credit and Banking, 30,745-770.
[40] Bhattacharaya, S., and Chiesa, G., 1995, Proprietary Information, Financial Intermediation, and Research Incentives, J. Finan. Intermed, 4,328-357.
[41] Bhattacharaya, S., and Thakor, A. V., 1993, Contemporary Banking Theory, J. Fina. Intermed, 3,2-50.
[42] Bill Bassett and Tom Brady, 2002, What Drives the Persistent Competitiveness of Small Banks? Working Paper.
[43] Billett, M.T., M.J. Flannery and J.A. Garfinkel, 1995, The effect of lender identity on a borrowing firm's equity return, Journal of Finance 50,699-718.
[44] Bikker, J.A., and Groeneveld, J.M., 2000, Competition and concentration in the EU banking industry, Kredit and Kapital, 33, 62-98.
[45] Bikker, J.A. and Haaf, K, 2000a, Competition, concentration and their relationship: An empirical analysis of the banking industry, Financial Structure, Bank Behaviour and Monetary Policy in the EMU Conference, October 5-6, Groningen.
[46] Bikker, J.A. and Haaf, K., 2000b, Measures of competition and concentration in the banking industry: A review of the literature, De Nederlandsche Bank, Research Series Supervision, No. 27, September.
[47] Black, S. E., and P. E. Strahan, 2002, Entrepreneurship and Bank Credit Availability, Journal of Finance 57, 2807-2834.
[48] Bodenhorn, H., 2003, Short-Term Loans and Long-Term Relationships: Relationship Lending in Early America, Journal of Money, Credit, and Banking 35,485-505.
[49] Bonaccorsi di Patti, E., and G. Dell'Ariccia, 2004, Bank Competition and Firm Creation, Journal of Money.Credit, and Banking 36, 225-252.
[50] Boot, A., and A. Thakor, 1994, Moral Hazard and Secured Lending in an Infinitely Repeated Credit Market Game, International Economic Review 35,899-920.
[51] Boot. A., and Thakor A., 1993, Self-interested Bank Regulation, American Economic Review, vol. 83; 2: 206-12.
[52] Boot, A., S. Greenbaum, and A. Thakor, 1994, Reputation and Discretion in Financial Contracting, The American Economic Review, vol.83; 5: 1165-83.
[53] Boot, A.W.,1999, Relationship Banking: What Do We Know? Journal of Financial Intermediation.
[54] Boot, A.W. and Thakor, A.V.,2000, Can relationship banking survive competition? Journal of Finance 55, 679-713.
[55] Boot A.W., Thakor A.V., 1997, Financial System Architecture, Review of Financial Studies, vol. 10; 3: 693-733.
[56] Boutillier, M., Gaudin, J. and Grandperrin, S., 2004, La situation concurrentielle des principaux secteurs bancaires Europeens entre 1993 et 2000: Quels enseignements pour la future structure des marches financiers issue de l' uem ? http://www.banque-France.fr/gb/fondatio/papers.
[57] Boyd, John H, and Gianni DeNicolo, 2005, Bank risk taking and competition revisited, Journal of Finance 60, Forthcoming.
[58] Bresnahan, T.F., 1982, The oligopoly solution concept is identified, Economic Letters, 10, 87-92.
[59] Bresnahan, T.F., 1989, Empirical studies in industries with market power, Handbook of Industrial Organisation, Vol. II, 1011-1058.
[60] Broecker, Thorsten, 1990, Credit-worthiness tests and interbank competition, Econometrica 58,429-452.
[61] Caminal, R., and C. Matutes, 2002, Market Power and Banking Failures, International Journal of Industrial Organization 20,1341-1361.
[62] Campbell,T.S. ,&Kracaw,W., 1980, Information Production, Market Signalling, and the Theory of Financial Intermediation, Journal of Finance, 35, pp. 863-882.
[63] Capie, F. and G. Rodrik-Bali, 1982, Concentration in British Banking, 1870-1920, Business History, 24,280-292.
[64] Cetorelli, Nicola, and Pietro F. Peretto, 2000, Oligopoly Banking and Capital Accumulation, Federal Reserve Bank of Chicago, December.
[65] Cetorelli, N., 2001, Does Bank Concentration Lead to Concentration in Industrial Sectors, Federal Reserve Bank of Chicago, Chicago.
[66] Cetorelli, N., 2003a, Bank Concentration and Competition in Europe, Federal Reserve Bank of Chicago, Chicago.
[67] Cetorelli, N., 2003b, life-Cycle Dynamics in Industrial Sectors: The Role of Banking Market Structure, Review of the Federal Reserve Bank of St. Louis 85,135-147.
[68] Cetorelli, N., and P. Strahan, 2003, Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets, Wharton Financial Institutions Center, Philadelphia.
[69] Chiapori, P.A., D. Perez-Castrillo, and E. Verdier, 1995, Spatial Competition in the Banking System, Localization, Cross-subsidies and the Regulation of Interest Rates, European Economic Review, vol 39; 5:889-919.
[70] Claessens, S. and D. Klingebiel, 2000, Competition and Scope of Activities in Financial Services, Washington D.C.: World Bank, mimeo, April.
[71] Claessens, S., and Luc Laeven, 2003, What Drives Bank Competition? Some International Evidence, Journal of Money, Credit, and Banking Forthcoming.
[72] Claessens, S., Demirguc-Kunt, A.and Huizinga, H., 2001, How does foreign entry affect domestic banking markets? Journal of Banking and Finance, 25,891-911.
[73] Cohen, Jon, 1967, Financing industrialization in Italy, 1894-1914, Journal of Economic History 27,363-382.
[74] Corvoisier, S., and R. Gropp, 2001, Contestability, Technology, and Banking, European Central Bank, Frankfurt.
[75] Coccorese, P., 2004, Banking competition and macroeconomic conditions: A disaggregate analysis, Journal of Financial Markets, Institutions and Money, 14,203-219.
[76] Cole, Rebel A., John D. Wolken, and R. Louise Woodburn, 1996, Bank and Nonbank Competition for Small Business Credit: Evidence from the 1987 and 1993 National Surveys of Small Business Finances, Federal Reserve Bulletin, November.
[77] Cordella, Tito, and Eduardo Levy Yeyati, 2002, Financial opening, deposit insurance, and risk in a model of banking competition, European Economic Review 46,471-485.
[78] De Bandt, O. and Davis, P., 2000, Competition, contestability and market structure in European banking sectors on the eve of EMU, Journal of Banking and Finance, 24, 1045-1066.
[79] Degryse and Ongena, 2004, The impact of competition on bank orientation and specialization, Working Paper.
[80] Degryse, H., and S. Ongena, 2004, Distance, Lending Relationships, and Competition, Journal of Finance Forthcoming.
[81] Dell'Ariccia, G. (2000), "Learning by Lending, Competition, and Screening Incentives in the Banking Industry", Mimeo, IMF.
[82] Dell'Ariccia, G., and R. Marquez, 2003, Information and Bank Credit Allocation, Journal of Financial Economics Forthcoming.
[83] Demirguc-Kunt, A. and E. Detragiache, 2002, Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation, Journal of Monetary Economics, forthcoming.
[84] Demsetz, H., 1982, Barriers to Entry, American Economic Review, Vol.72, pp.47-57.
[85] Demsetz, Rebecca S., Saidenberg, Marc R. and Strahan, Philip E, 1996, Banks with Something To Lose: The Disciplinary Role of Franchise Value, Federal Reserve Bank of NewYork Economic Policy Review, 2(2), pp. 1-14.
[86] Dewatripont, M., and E. Maskin, 1995, Credit and efficiency in centralized and decentralized economies, Review of Economic Studies 62,541-555.
[87] Dewatripont, M., and Tirole, J., 1994, The Prudential Regulation of Banks, Cambridge, Mass: MIT Press.
[88] Diamond, Douglas, and Philip Dybvig, 1983, Bank Runs, Deposit Insurance, and Liquidity, Journal of Political Economy 91, 401-419.
[89] Diamond, Douglas W., and Raghuram G. Rajan, 2000, A theory of bank capital, The Journal of Finance 55, 2431-2464.
[90] Diamond, Douglas W., 1984, Financial Intermediation and Delegated Monitoring, Rev. Econ.Stud., 51(3), pp. 393-414.
[91] Diamond, D.W., 1997, Liquidity, Banks, and Markets, Journal of Political Economy, vol 105; 5: 928-956.
[92] Diamond, Douglas W., 1991, Monitoring and reputation: The choice between bank loans and directly placed debt, Journal of Political Economy 99, 689-721.
[93] Dinc, I., 2000, Bank Reputation, Bank Commitment, and the Effects of Competition in Credit Markets, Review of Financial Studies 13,781-812.
[94] Drakos, K. and Konstantinou, P., 2001, Competition and contestability in transition banking: An empirical analysis. EEFS Conference, Heraklion, Crete.
[95] Elsas, R., 2004, Empirical Determinants of Relationship Lending, Journal of Financial IntermediationForthcoming.
[96] Ennis, Huberto M., 2001, On the Size Distribution of Banks, Economic Quarterly, Volume 87, No. 4, Federal Reserve Bank of Richmond.
[97] ErkkiKoskela &Rune Stenacka, Is there a tradeoff between bank competition and financial fragility ? Journal of Banking & F inance 24,1853-1873.
[98] Fama, Eugene, 1985, What's different about banks? Journal of Monetary Economics 15, 29-36.
[99] Fischer, K. H., 2000, Acquisition of Information in Loan Markets and Bank Market Power: An Empirical Investigation, Johann Wolfgang Goethe University Frankfurt, Frankfurt.
[100] Freixas, X. and Rochet, J.C.,1997, Microeconomics of Banking, Cambridge, MA: MIT Press.
[101] Gale, D., and M. Hellwig, 1985, Incentive Compatible Debt Contracts: The Oneperiod Problem, Review of Economic Studies, L11: 647-63.
[102] Garcia, G.G.H., 1999, Deposit Insurance: A Survey of Actual and Best Practices, IMF Working paper.
[103] Gart, Alan, 1994, Regulation, Deregulation, Reregulation: the Future of the Banking, Insurance, and Securities Industries, John Wiley &Sons, Inc.
[104] Gelfand, M.D. and Spiller, P.T., 1987, Entry barriers and multiproduct oligopolies. International Journal of Industrial Organisation, 5,101-113.
[105] Gelos, R.G. and Roldos, J., 2004, Consolidation and market structure in emerging market banking systems, Emerging Markets Review, 5,39-59.
[106] Gerschenkron, Alexander, 1962, Economic Backwardness in Historical Perspective, A Book of Essays, Cambridge, MA: Harvard University Press.
[107] Gertler, B. S.,M. &Gilchrist, S., 1996, The Financial Accelerator, and the Flight to Quality, Review of Economics and Statistics, 78, pp. 1-15.
[108] Gorton Gary and Andrew Winton, 1998, Banking in Transition Econnomics: Does Efficiency Require Instability? Journal of Money, Credit and Banking, Vol. 30, Part2 .
[109] Gorton, Gary, and Andrew Winton, 1995, Bank Capital Regulation in General Equilibrium, Working Paper no. 5244, National Bureau of Economic Research;
[110] Gorton, Gary, and Andrew Winton, 1997, Liquidity Provision and the Social Cost of Bank Capital, Finance Department Working paper no.236, Northwestern University, October.
[111] Guzman Mark G., 2000a, The Economic Impact of Bank Structure: A Review of Recent Literature, Economic and Financial Review, Second Quarter, 2000.
[112] Guzman Mark G., 2000b, Bank Structure, Capital Accumulation and Growth: A Simple Macroeconomic Model, Economic Theory forthcoming..
[113] Haber Stephan H., 1997, Financial Markets and Industrial Development: A Comparative Study of Governmental Regulation, Financial Innovation and Industrial Structure in Brazil and Mexico, 1840-1940, in: How Latin America Fell Behind? Ed: Stephan Haber, 146-78. Stanford, CA: Stanford University Press.
[114] Haber Stephan H. 1991, Industrial Concentration and Capital Markets: A Comparative Study of Brazil, Mexico and the United States, 1830-1930, Journal of Economic History, September, 51(3), 559-80.
[115] Hannan, T.H., and A.N. Berger, 1991, The Rigidity of Prices: Evidence from the Banking Industry. American Economic Review 81, 938-945.
[116] Hannan, T. H., 1991, Bank Commercial Loan Markets and the Role of Market Structure: Evidence fromSurveys of Commercial Lending, Journal of Banking and Finance 15, 133-149.
[117] Harhoff, D., Korting, T.,1998, Lending Relationship in Germany-Empirical Evidence from Survey Data, Journal of Banking and Finance, Vol.22,1317-1353.
[118] Hart, O., 1995, Debt and Seniority: An Analysis of the Role of Hard Claims in Constraining Management, American Economics Review, 85:567-85.
[119] Hauswald, R., and R. Marquez, 2003a, Competition and Strategic Information Acquisition in Credit Markets, University of Maryland, College Park MD.
[120] Hauswald, R., and R. Marquez, 2003b, Information Technology and Financial Services Competition, Reviewof Financial Studies 16, 921-948.
[121] Hellman Thomas F.& Murdock Kevin C. & Stiglitz Joseph E., 2000, Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough? American Economic Review, Vol. 90 (1) pp. 147-165.
[122] Hellwig, M., 1991, Banking, financial intermediation and corporate finance, in A.Giovannini and C. Mayer Eds. European Financial Integration, Cambridge: Cambridge University Press.
[123] Hempell, H.S., 2002, Testing for competition among German banks, Economic Research Centre, Deutsche Bundesbank, Discussion Paper 04/02.
[124] Holmstrom, Bengt and Tirole, Jean. "Market Liquidity and Performance Monitoring," J.Polit. Econ., Aug. 1993, 101(4), pp. 678-709.
[125] Hondroyiannis, G., Lolos, S. and Papapetrou, E., 1999, Assessing competitive conditions in the Greek banking system, Journal of International Financial Markets, Institutions and Money, 9,377-391.
[126] Honohan, Patrick, and Stiglitz, Joseph, 1999, Restoring Banking Stability: Beyond Supervised Capital RequirementsJournal of Economic Perspectives, Vol. 13, No. 4, pp. 43-64
[127] Horvitz, P., 1983, The case against risk-related deposit insurance premiums. Housing Finance Review.
[128] Huertas, T. F., Strauber, R.L., 1986, Deposit insurance: overhaul or tune-up? Issues in Bank Regulation, Winter.
[129] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1990a, Bank monitoring and investment: Evidence from the changing structure of Japanese corporate banking relationships, in R. Glenn Hubbard, ed.: Asymmetry Information, Corporate Finance and Investment, University of Chicago Press, Chicago.
[130] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1990b, The role of banks in reducing the costs of financial distress in Japan, Journal of Financial Economics 27, 67-88.
[131] Hoshi, Takeo, Anil Kashyap, and David Scharfstein, 1991, Corporate structure, liquidity and investment: Evidence from Japanese industrial groups, Quarterly Journal of Economics 106, 33-60.
[132] Hotelling, H., 1929, Stability in Competition, Economic Journal 39,41-45.
[133] IMF, 1984, A Guide to Money and Banking Statistics in International Financial Statistics.
[134] Jayaratne Jith and Wolken John, 1999, How important are small banks to small business lending? New evidence from a survey of small firms, Journal of Banking and finance, 23, pp. 427-458.
[135] Jiang, G., Wong, J., Tang, N. and Sze, A., 2004, Banking sector competition in Hong Kong -Measurement and evolution over time, Hong Kong Monetary Authority, 30 April.
[136] Kane, E.J., 1985, The gathering crisis in federal deposit insurance, .MIT Press, Cambridge, MA.
[137] Kane, E.J., 1986, Appearance and reality in deposit insurance, Journal of Banking and Finance,10.
[138] Keeley, M.C., 1990, Deposit insurance, risk and market power in banking. American Economic Review, 80,1183-1201.
[139] Keeton, W. R., 1995, Multi-office bank lending to small businesses: Some new evidence, Federal Reserve Bank of Kansas City Economic Review 80 (2), 45-57.
[140] Klein, M., 1971, A theory of the banking firm. Journal of Money, Credit, and Banking, 7, 205-218.
[141] Kroszner, Randall S. and Strahan, Philip E. 1999, What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions, Quarterly Journal of Economics, 114(4), pp. 1437-67.
[142] Lau, L., 1982, On identifying the degree of competitiveness from industry price and output data, Economic Letters, 10, 93-99.
[143] Leland, Hayne, and David Pyle, 1977, Information asymmetries, financial structure and financial intermediaries, Journal of Finance 32,371-387.
[144] Levonian, Mark and Jennifer Soller, 1996, Small Banks, Small Loans, Small Business, Federal Reserve Board of San Francisco, Weekly Letter
[145] Lloyd-Williams, D.M., Molyneux, P. and Thornton, J., 1991, Competition and contestability in the Japanese commercial banking market, Institute of European Finance, Research Papers in Banking and Finance, no. 16.
[146] Lummer, Scott and John McConnell, 1989, Further evidence on the bank lending process and the capital market response to bank loan agreements, Journal of Financial Economics 25,99-122.
[147] Mallick, R. &Chakraborty, A., 2002, Credit Gap in Small Business: Some New Evidence, Working Paper from Econpapers.
[148] Masahiko Aoki, Serdar Dinc, 1997, Relational Financing as an Institution and its Viability under Competition, May, working paper
[149] Marinc, M., 2004, Competition and Entry in Banking, Working Paper.
[150] Matutes, C, and Vives X., 1996, Competition for Deposits, Fragility, and Insurance, Journal of Financial Intermediation, vol. 5; 2:184-216.
[151] Matutes, C. and X. Vives.,2000, Imperfect Competition, Risk Taking, and Regulation in Banking, European Economic Review, 44,1-34.
[152] Merton, R.C., 1978, On the Cost of Deposit Insurance When There Are Surveillance Costs, Journal of Business 51,439-452.
[153] Merton, R.C.,1977, An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees, Journal of Banking and Finance 1,512-520.
[154] Meyer, Laurence H., 1998, The Present and Future Roles of Banks in Small Business Finance, Journal of Banking &Finance 22.
[155] Mishkin , F. S., 2001 , The Economics of Money, Banking, and Financial Markets. Harper Collins College Publishers.
[156] Molyneux, P., Lloyd-Williams, D.M. and Thornton, J., 1994, Competitive conditions in European banking. Journal of Banking and Finance, 18,445-459.
[157] Molyneux, P., Thornton, J. and Lloyd-Williams, D.M.,1996, Competition and market contestability in Japanese commercial banking, Journal of Economics and Business, 48, 33-45.
[158] Mooslechner, P. and Schnitzer, Y., 1995, Structure-performance in banking: An application of a typical universal banking system, Applied Industrial Organisation, Kluwer, Dordrecht, 167-186.
[159] Nathan, A. and Neave, E., 1989, Competition and contestability in Canada's financial system: Empirical results, Canadian Journal of Economics, 22,576-594.
[160] Nakamura, Leonard I., 1993, Recent Research in Commercial Banking: Information and Lending, Financial Markets, Institutions and Instruments, vol. 2 pp. 73-88.
[161] Norton, E., 1991, Capital Structure and Small Growth Firms, Journal of Small Business Finance, 1(2), pp. 161-177.
[162] Ongena, S., and D. C. Smith, 2000a, Bank Relationships: a Survey, Cambridge University Press, London.
[163] Ongena, S., and D. C. Smith, 2000b, What Determines the Number of Bank Relationships? Cross-Country Evidence, Journal of Financial Intermediation 9,26-56.
[164] Panzar, J. C, Rosse, J.N., 1982, Structure , Conduct and Comparative Statistics, Bell Laboratories Economic discussion paper No. 248.
[165] Panzar, J.C. and Rosse, J.N., 1987, Testing for monopoly equilibrium, Journal of Industrial Economics, 25, 443-456.
[166] Peek, J., Rosengren, E.S., 1996, Small Business Credit Availability: How Important Is Size of Lender? In: Saunders, A.
[167] Peek Joe &Roengren. Eric S., 1996, Bank Consolidation and Small business Lending: It's not just Bank Size that Matters, Journal of Banking and Finance 22,799-819
[168] Petersen, M. A. &Rajan, R. G., 2002, Dose Distance Still Matter? The Information Revolution in Small Business Lending, The Journal of Finance, 57(6),pp. 2379-2403.
[169] Perotti, E. and J. Suarez, 2003, Last Bank Standing: What do I gain if You Fail? Forthcoming, European Economic Review.
[170] Petersen , M. A. &Rajan, R.G., 1995, The Effects of Credit Market Competition on Firm-creditor Relationships, Quarterly Journal of Economics, 110(2), pp. 407-443.
[171] Petersen M., and R. Rajan, 1994, The Benefits of Lending Relationships: Evidence from Small Business Data, Journal of Finance 49, Issuel: 3-37.
[172] Pyle D.H., 1971, On the Theory of Financial Intermediation, Journal of Finance 26(3), 737-747.
[173] Rajan, R.G. &Winton, A., 1995, Covenants and Collateral as Incentives to Monitor, Journal of Finance, 50, pp. 1113-1146.
[174] Ralf Elsas, 2002, Learning on the Determinants of Relationship Lending, Working paper.
[175] Rochet, J.C, 1992, Capital Requirements and the Behaviour of Commercial Banks, European Economic Review, vol. 36; 5: 1137-70.
[176] Rochet, J.C, and J. Tirole, 1996, Interbank Lending and Systemic Risk, Journal of Money, Credit and Banking, vol. 28;4: 733-62.
[177] Rose, Peter.S., 1996, Commercial Bank Management, McGraw-Hill Companies.
[178] Rosse, J.N. and Panzar, J.C, 1977, Chamberlin vs. Robinson: An empirical test for monopoly rents, Bell Laboratories Economic, Discussion Papers, 90.
[179] Repullo, Rafael, 2004, Capital requirements, market power and risk-taking in banking, Journal of Financial Intermediation 13,156-182.
[180] Repullo, Rafael,and Javier Suarez, 2004, Loan pricing under basel capital requirements, Journal of Financial Intermediation 13, 496-521.
[181] Salas, V., and J. Saurina, 2003, Deregulation, market power and risk behavior in Spanish banks, European Economic Review, 47, pp. 1061-1075.
[182] Salop, S., 1979, Monopolistic Competition with Outside Goods, Bell Journal of Economics 10,141-156.
[183] Salvo, R.D, Ferri,G.,Angelini, P., 1998, Availability and Cost for Small Businesses : Customer Relationship and Credit Cooperatives, Journal of Banking and Finance, 22, 925-954.
[184] Scott, JA., Dunkelberg, W.C., 1999. Bank consolidation and small business lending: A small firm perspective, in Business Access to Capital and Credit, A Federal Reserve System Research Conference, 328-361.
[185] Shaffer, S., 1981b, Empirical test for competitive conduct, Banking Studies Department, Federal Reserve Bank of New York, August.
[186] Shaffer, S., 1982, A non-structural test for competition in financial markets, In: Bank structure and competition, Conference Proceedings, Federal Reserve Bank of Chicago, 225-243.
[187] Shaffer, S.,1985, Competition, economies of scale, and diversity of firm sizes, Applied Economics, 17, 467-476.
[188] Shaffer, S., 1989, Competition in the US banking industry, Economic Letters, 29,323-323.
[189] Shaffer, S., 1993, A test of competition in Canadian banking, Journal of Money, Credit, and Banking, 25,49-61.
[190] Shaffer, S., 2004, Patterns of competition in banking, Journal of Economics and Business, 56,287-313.
[191] Sharpe, S., 1990, Asymmetric Information, Bank Lending and Implicit Contracts: A Market Equilibrium Approach, The Journal of Finance, 45(4), pp. 1069-1087.
[192] Smith, R. and Tripe, D., 2001, Competition and contestability in New Zealand's banking system, Paper presented at the 14th Australian Finance and Banking Conference, Sydney, December.
[193] Stahl, D.O., 1988, Bertrand Competition for Inputs and Walrasian Outcomes, American Economic Review, vol.78; 1:189-201.
[194] Stiglitz, Joseph E., 1985, Credit Markets and the Control of Capital, Journal Money, Credit, Banking, 17(2), pp. 33-52.
[195] Stiglitz, Joseph, and Andrew Weiss, 1981, Credit Rationing in Market with Imperfect Information, American Economic Review 71,393-410.
[196] Strahan, P.E., and J. Weston, 1996, Small business lending and bank consolidation: Is there cause for concern? current issues in Economics and Finance 2, Federal Reserve Bank of New York 2,1-6.
[197] Strahan, P.E., Weston, J.P., 1998, Small Business Lending and the Changing Structure of the Banking Industry, Journal of Banking and Finance, 22, 821-845.
[198] Townsend, R., 1979, Optimal contracts and competitive markets with costly state verification, Journal of Economic Theory, 21,265-93.
[199] Vesala, J., 1995, Testing for competition in banking: Behavioral evidence from Finland, Bank of Finland Studies, El, Bank of Finland.
[200] Vives, Xavier, 2001, Competition in the changing world of banking, Oxford Review of Economic Policy 17,535-547.
[201] Von Thadden, E. L., 1995, Optimal Liquidity Provision and Dynamic Incentive Compatibility, Working paper Centre for Economic Policy Research, European Science Foundation, London.
[202] World Bank, 1998, Preventing Bank Crises; Lessens From Recent Global Bank failure.
[203] Yosha, Oved, 1995, Information disclosure costs and the choice of financing source, Journal of Financial Intermediation 4, 3-20.
[204] Yafeh, Y., and O. Yosha, 2001, Industrial Organization of Financial Systems and Strategic Use of Relationship Banking, European Finance Review 5, 63-78.
[205] Yeyati, E. L. and Micco, A., 2003, Concentration and foreign penetration in Latin American banking sectors: Impact on competition and risk, Inter-American Development Bank, Research Department, Working Paper 499.
[206] Yildirim, H.S. and Philippatos, G.C., 2002, Competition and contestability in Central and Eastern European banking markets, University of Tennessee, Working Paper, September.
[1] 曹敏，何佳，潘启良，金融中介及关系银行—基于广东外资企业银行融资数据的研究[J]．经济研究，2003年第3期：44-53
[2] 程惠霞，国际M & A浪潮与中小银行发展[J]．当代经济科学，2002年第1期：32-39
[3] 程惠霞，中美发展中小银行策略之比较[J]．金融研究，2000年第10期：22-27
[4] 胡小平，中小企业融资[M]．北京：经济管理出版社，2000
[5] 郭斌、刘曼路，民间金融与中小企业的发展[J]．经济研究，2002年第10期：40-47
[6] 樊纲，发展民间金融和金融体制改革，中国经济时报，2000-9-6
[7] 樊纲，克服信贷萎缩与银行体系改革[J]．经济研究，1999年第1期：4-8
[8] 华南金融研究所课题组，民营金融的供给与均衡[J]．华南金融研究，2001年第4期：3-6
[9] 纪敏，中小企业融资的经济分析：非公开融资的作用[N]．证券市场导报，2004年12月8日
[10] 李建国，中国银行业的市场结构与竞争效率[J]．中央财经大学学报，2000年第11期：42-47
[11] 李志斌，银行结构与中小企业融资[J]．经济研究，2002年第6期：38-45
[12] 梁冰，我国中小企业发展及融资状况调查报告[J]．金融研究，2005年第5期：120-138
[13] 林毅夫、李永军，中小金融机构发展与中小企业融资[J]．经济研究，2001年第1期：10-18
[14] 林毅夫、章奇、刘明兴，金融结构与经济增长：以制造业为例[J]．世界经济，2003年第1期：3-21
[15] 牛晓帆，西方产业组织理论的演化与新发展[J]．经济研究，2004年第3期：116-123
[16] 平新乔、蒋国荣，“三角债”的博弈理论分析[J]．经济研究，1994年第1期：65-76
[17] 施蒂格勒，产业组织和政府管制(论文集)[M]．上海人民出版社，1994年。
[18] 史晋川，浙江大学民营经济研究中心咨询研究报告[R]．2003年8月。
[19] 宋立，国家发改委经济研究所课题阶段性成果，2001年。
[20] 唐旭，不良资产、税收与银行准入的开放[J]．经济研究，2005年第7期：66-76
[21] 田晓霞，小企业融资理论及实证研究综述[J]．经济研究，2004年第5期：107-116
[22] 厦门银监局课题组，银行牌照管理研究——兼谈完善我国银行市场准入的政策建议[J]．金融研究，2004年第8期：86-93
[23] 辛树人、向珂，中小企业金融制度的缺陷分析及矫正点选择[J]．金融研究，2004年第7期，60-72
[24] 熊继洲、罗得志，民营银行：台湾的经验与教训[J]．金融研究，2003年第2期：12-21
[25] 徐滇庆，金融改革路在何方—民营银行200问[M]．北京：北京大学出版社，2001。
[26] 徐滇庆，广州市商业银行的前车之鉴[J]．财经，2002第23期：56-63
[27] 易纲，银行不良资产率与地方政府政绩考核[J]．财经，2002年第18期：23-30
[28] 易纲、赵先信，中国的银行竞争：机构扩张、工具创新与产权改革[J]．经济研究，2001年第8期：25-32
[29] 易纲，中小企业融资难的关键是直接融资渠道狭窄，中宏网，2002。
[30] 王霄、张捷，银行信贷配给与中小企业贷款：一个内生化抵押品和企业规模的理论模型[J]．经济研究，2003年第7期：68-75
[31] 王宣喻、储小平，信息披露机制对私营企业融资决策的影响[J]．经济研究，2002年第10期：31-39
[32] 王一江、田国强，中国银行业：改革两难与外资作用[R]．2003年10月
[33] 王自力，银行改革的重点是存量改革[J]．财经，2002年第23期：33-40
[34] 王自力，民营银行准入：目前还宜缓行[J]．金融研究，2002第11期：79-86
[35] 于良春、鞠源，垄断与竞争：中国银行业的改革和发展[J]．经济研究，1999年第8期：48-57
[36] 张春霖，论国有企业的债务问题[J]．改革，1996年第1期：22-33
[37] 张捷，中小企业的关系型借贷与银行组织结构[J]．经济研究，2002年第6期：32-37
[38] 张捷、王霄，中小企业金融成长周期与融资结构变化[J]．世界经济，2002年第9期：63-70
[39] 张杰，民营经济的金融困境与融资秩序[J]．经济研究，2000年第4期：3-10
[40] 张杰，中国金融制度的结构与变迁[M]．山西经济出版社，1999年。
[41] 张杰，中国国有银行的资本金谜团[J]．经济研究，2003年第1期：30-36
[42] 张杰，经济变迁中的金融中介与国有银行[M]．北京：中国人民大学出版社，2003。
[43] 张杰，注资与国有银行改革：一个金融政治经济学的视角[J]．经济研究，2004年第6期：4-14
[44] 赵旭，从信贷市场结构看金融脆弱性与银行竞争的关系[J]．经济科学，2002年第3期：14-21
[45] 中央财经大学课题组，中国地下金融调查[N]．北京现代商报，2005-12-30
[46] 周建松、郭福春，民营经济与地方性商业银行协同发展—浙商银行成立与运行状况引发的思考金融研究[J]．金融研究，2005年第5期：111-119