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Richard J. Rosen

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Richard J. Rosen and Gregory F. Udell

This chapter explores the association between competition in the bank market and the provision of finance to small and mid-sized enterprises (SMEs). The traditional market power view and the relationship lending view are both discussed, including their differing predictions on the impact of competition. The discussion is presented in the context of the lending technology paradigm, which emphasizes distinct differences in the methods of underwriting SME loans. The chapter includes an assessment of both the theoretical and the empirical literature on competition and SME lending.