The Effects of Dynamic Changes in Bank Competition on the Supply of Small Business Credit |
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| Authors: | Allen N Berger Lawrence G Goldberg and Lawrence J White |
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| Institution: | (1) Board of Governors, Federal Reserve System, Washington, DC, 20551, U.S.A.;(2) Wharton Financial Institutions Center, Philadelphia, PA, 19104, U.S.A;(3) Federal Reserve Board, Mail Stop 153, 20th and C Sts. NW, Washington, DC, 20551, Phone;(4) Department of Finance, University of Miami, Coral Gables, FL, 33124, U.S.A;(5) Stern School of Business, New York University, New York, NY, 10012-1126, U.S.A |
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| Abstract: | We study the effects of structural changes in banking markets on the supply of credit to small businesses. Specifically, we examine whether bank mergers and acquisitions (M & As) and entry have ``external' effects on small business loans by other banks in the same local markets. The results suggest modest positive external effects from these dynamic changes in competition, except that large banks may reduce small business lending in reaction to entry. We confirm bank size and age as important determinants of this lending, and show that the measured age effect does not appear to be driven by local market M & A activity. |
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| Keywords: | bank mergers small business |
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