Natural disasters and economic growth: The role of banking market structure
研究发现，自然灾害后，竞争程度较低的银行业市场中经济恢复更快；竞争降低10%可使增长率提高0.3%，主要源于银行增加房地产信贷而非商业或消费贷款。
Following a natural disaster, the rate of economic growth recovers faster in less competitive banking markets. A 10% reduction in competition increases the rate of economic growth by 0.3%. In less competitive markets, banks respond to a disaster by increasing the supply of real estate credit by refinancing mortgage loans, but do not lend more to businesses or consumers. Instead, government agencies provide disaster loans to affected businesses and households. Smaller, profitable and well-capitalized institutions that rely more on traditional retail banking originate most mortgage credit.