Does Banking Diversity Matter for Credit Access? Evidence on SMES in Europe
研究了银行多样性（用类似生态多样性的基尼-辛普森指数衡量）如何影响欧洲八国中小企业获得信贷的概率，发现银行机构多样性可缓解信贷约束并增加企业贷款申请意愿。
ABSTRACT This paper investigates SMEs' access to credit from the perspective of the biodiversity argument in banking, a conceptual framework that has been largely overlooked in the literature. Using bank‐ and firm‐level data for eight European countries from 2014 to 2022, I empirically assess the role of bank diversity—measured by the Gini‐Simpson index, in analogy with ecological diversity—on the probability of SMEs being credit rationed. My results indicate that institutional heterogeneity within the banking sector mitigates credit constraints faced by SMEs while also increasing firms' propensity to apply for bank loans. These findings align with the core tenet of the biodiversity approach, which posits that a banking landscape marked by a plurality of institutional forms represents a valuable asset for financing the real economy. In light of my evidence, preserving and fostering institutional diversity within the banking sector should be regarded as a policy priority.