[Title Page]
Copyright
Contents
[Abstract] 5
I. Introduction 6
II. Model 13
III. The Market Equilibrium 17
3.1. The Monopoly Market 17
3.2. The Duopoly Market 20
3.2.1. Characterization 23
3.2.2. Price Competition 26
IV. Comparative Statics 30
4.1. Endogenous Variables, Foreign Bank Entry, and Information Cost 30
4.2. Parameter Choices 31
4.3. Simulation Graphs: Endogenous Variables 31
4.3.1. Investigation Levels 31
4.3.2. Interest Rates of Loans 33
4.3.3. Market Shares 34
4.3.4. Loan Portfolios and Default Loan Rates 34
4.3.5. Welfare 35
V. Welfare Analysis and Policy Implications 36
5.1. Welfare from the Point of View of Host Countries 37
5.2. Overall Welfare Including Foreign Banks 39
VI. Conclusion 41
Appendix 43
References 53
Abstract in Korean 57
BOK 경제연구 발간목록 58
[Back Cover] 63