{"product_id":"access-to-finance-banking-market-power-and-institutional-development-von-dahlia-el-hawary","title":"Access to Finance, Banking Market Power and Institutional Development","description":"\u003cp\u003eI investigate effect of banking market power, assumed to increase in market concentration, on  firms'' financing constraints in a number of  countries in 1991¿2002. I find evidence for  financing constraints indicated by sensitivity of  firms'' investment to availability of internal  finance. Results show that banking concentration  reduces firms'' constraints. Small firms are  constrained \u0026amp; become less so in more concentrated  markets. There is no evidence for constraints for  large firms or for effect of  concentration on   sensitivity of their investment to availability of  internal funds. I find that legal system efficiency,  financial development \u0026amp; level of restrictiveness of  regulatory environment can each indirectly influence  investment through its impact on banking  concentration. None of these factors directly  affects investment. I find evidence for differential  effect of concentration on firms'' constraints in  countries with different levels of institutional  development. Results show that beneficial  effect of banking market power on access to credit  may be limited for certain types of borrowers \u0026amp;  delivered under certain policy conditions.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843356411\"\u003e\u003ch3\u003eBanking Market Structure, Firms'' Financing Constraints and Investment\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843356411","offer_id":39470055719005,"sku":"9783843356411","price":59.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/0ec9e2fc-7748-4dc9-86e2-d8ff90b9959b.jpg?v=1775194700","url":"https:\/\/shop.autorenwelt.de\/products\/access-to-finance-banking-market-power-and-institutional-development-von-dahlia-el-hawary","provider":"Autorenwelt Shop","version":"1.0","type":"link"}