The Long-run Equilibrium of the Consumer Loan Market

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概要

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• We investigate whether non-banks excessively or insufficiently enter the consumer loan market. Not only large non-banks such as Acom, Takefuji and Promise, but many small ones operate in the Japanese consumer loan market. These non-banks borrow most of the necessary funds from a few financial institutions such as banks and insurance companies. The market structure observed between these non-banks and firms that supply funds to them is a market with a vertical structure. Therefore, we developed a model of consumer loan markets as an oligopolistic market with a vertical structure, i.e. one upstream monopolistic bank and multiple non-banks. We show that non-banks insufficiently enter the consumer loan market in the long-run equilibrium. This result contrasts the well known "excess entry" theorem.JEL Classification Numbers: D43, G29, L13

• 日本地域学会の論文

著者

• MORI Nobuhiro

  Nara University of Education, Japan

• OKAMURA Makoto

  Hiroshima University, Japan

• OHKAWA Takao

  Ritsumeikan University, Japan

• OHKAWA TAKAO

  Ritsumeikan University

• Okamura Makoto

  Hiroshima University

関連論文

• The Long-run Equilibrium of the Consumer Loan Market
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