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dc.contributor.authorMatthey, Astriden_US
dc.date.accessioned2008-03-07en_US
dc.date.accessioned2009-07-27T09:40:01Z-
dc.date.available2009-07-27T09:40:01Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/25675-
dc.description.abstractPrivate banks often blame state guarantees to distort competition by giving public banks the advantage of lower funding costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may be able to separate firms by self selection, enter the market, and obtain profits in equilibrium despite their cost disadvantage. The public bank’s competitive advantage may be offset, independently of what its true objective function is. Even perfect competition between private banks does not lead to zero profits.en_US
dc.language.isoengen_US
dc.publisherUniversität Jena und Max-Planck-Institut für Ökonomik Jenaen_US
dc.relation.ispartofseriesJena economic research papers 2007,100en_US
dc.subject.jelG21en_US
dc.subject.keywordpublic banksen_US
dc.subject.keywordstate guaranteeen_US
dc.subject.keywordself-selectionen_US
dc.subject.stwÖffentliche Banken_US
dc.subject.stwStaatshaftungen_US
dc.subject.stwWettbewerben_US
dc.subject.stwBanken_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwAgency Theoryen_US
dc.subject.stwTheorieen_US
dc.titleDo public banks have a competitive advantage?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn559548591en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Jena Economic Research Papers, MPI für Ökonomik

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