Personal Bankruptcy and Credit Market Competition
Personal Bankruptcy and Credit Market Competition
复制标题
DOI：
10.2139/ssrn.957778
复制
发表时间：
2007-01
期刊：
影响因子：
--
通讯作者：
Astrid A. Dick;A. Lehnert
中科院分区：
文献类型：
--
作者：
Astrid A. Dick;A. Lehnert
我们记录了美国信贷供应与个人破产率上升之间的联系。我们利用银行业放松管制（20世纪80年代和90年代放宽进入限制）在州一级带来的市场稳定性的外生变化。我们发现，放松管制至少解释了破产率上升的10%。我们还发现，放松管制导致贷款增加，贷款损失率降低，贷款生产率提高。我们的研究结果表明，竞争加剧促使银行采用先进的信用评级技术，允许向现有和以前被排除在外的家庭提供新的信贷。
We document a link between U.S. credit supply and rising personal bankruptcy rates. We exploit the exogenous variation in market contestability brought on by banking deregulation—the relaxation of entry restrictions in the 1980s and 1990s—at the state level. We find deregulation explains at least 10% of the rise in bankruptcy rates. We also find that deregulation leads to increased lending, lower loss rates on loans, and higher lending productivity. Our findings indicate that increased competition prompted banks to adopt sophisticated credit rating technology, allowing for new credit extension to existing and previously excluded households.