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Political cycles and bank lending in Russia
(25.03.2020)
BOFIT Discussion Papers 8/2020
BOFIT Discussion Papers 8/2020
State-owned banks tend to increase lending before elections for the purpose of boosting the reelection odds of incumbent politicians. We employ monthly data on individual banks to study whether Russian banks increased their ...
The failure of Chinese peer-to-peer lending platforms : Finance and politics
(15.12.2020)
BOFIT Discussion Papers 27/2020
BOFIT Discussion Papers 27/2020
We investigate the influence of financial and political factors on peer-to-peer (P2P) platform failures in China’s online lending market. Using a competing risk model for platform survival, we show that large platforms, ...
City commercial banks and credit allocation : Firm-level evidence
(09.03.2021)
BOFIT Discussion Papers 4/2021
BOFIT Discussion Papers 4/2021
This paper investigates how government-led banking liberalization affects credit allocation by banks using as a quasi-natural experiment the establishment of city commercial banks (CCBs) in China. Based on more than three ...
Banks vs. markets : Are banks more effective in facilitating sustainability?
(27.04.2022)
BOFIT Discussion Papers 5/2022
BOFIT Discussion Papers 5/2022
Is bank- versus market-based financing different in its attitudes towards Environmental, Social, and Governance (ESG) risk? Using a novel sample covering 3,783 U.S. public firms from 2007 to 2020, we study how firm-level ...
Elections hinder firms’ access to credit
(09.02.2022)
BOFIT Discussion Papers 3/2022
BOFIT Discussion Papers 3/2022
To analyze whether the occurrence of elections affects access to credit for firms, we perform an investigation using firm-level data covering 44 developed and developing countries. The results show that elections impair ...
Does bank efficiency affect the bank lending channel in China?
(08.02.2021)
BOFIT Discussion Papers 3/2021
BOFIT Discussion Papers 3/2021
This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 175 Chinese banks over the period 2006–2017, we investigate how the reaction of the loan supply to monetary policy ...
Trade conflicts and credit supply spillovers : Evidence from the Nobel Peace Prize trade shock
(21.10.2022)
BOFIT Discussion Papers 8/2022
BOFIT Discussion Papers 8/2022
In this paper, we examine how a trade conflict’s impact on the real economy can be amplified by financial intermediaries. After the Norwegian Nobel Peace Prize Committee awarded the 2010 Nobel Peace Prize to Chinese dissident ...
Technological innovation and the bank lending channel of monetary policy transmission
(20.12.2023)
BOFIT Discussion Papers 9/2023
BOFIT Discussion Papers 9/2023
This paper studies whether and how banks’ technological innovations affect the bank lending channel of monetary policy transmission. We first provide a theoretical model in which banks’ technological innovation relaxes ...
Regional favoritism in access to credit : just believe it
(21.03.2023)
BOFIT Discussion Papers 1/2023
BOFIT Discussion Papers 1/2023
ABSTRACT
We examine the effect of regional favoritism on the access of firms to credit. Using firm-level data on a large sample of 29,000 firms covering 47 countries, we investigate the hypothesis that firms in the birth ...
BigTech credit and monetary policy transmission : Micro-level evidence from China
(13.04.2023)
BOFIT Discussion Papers 2/2023
BOFIT Discussion Papers 2/2023
ABSTRACT
This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies ...