银行竞争、信贷成本和经济活动：来自巴西的证据

This BIS Working Paper examines the relationship between bank competition, the cost of credit, and economic activity in Brazil. The authors use a difference-in-differences empirical strategy to estimate the causal effect of bank competition on financial and real variables in local markets. They find that following mergers and acquisitions, spreads increase and there is less lending in exposed markets. The authors also find that bank competition has real effects, with a 1% increase in spreads leading to a 0.2% decline in employment. Overall, the paper suggests that bank competition has a negative impact on both financial and real variables in local Brazilian markets.

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