Haku
Viitteet 1-10 / 21
Bond finance, bank credit, and aggregate fluctuations in an open economy
(05.08.2016)
Bank of Finland Research Discussion Papers 22/2016
Bank of Finland Research Discussion Papers 22/2016
Corporate sectors in emerging markets have noticeably increased their reliance on foreign financing, presumably reflecting low global interest rates. The evidence also shows a rebalancing from bank loans towards bonds. To ...
Financing innovation
(12.12.2015)
Bank of Finland Research Discussion Papers 28/2015
Bank of Finland Research Discussion Papers 28/2015
We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning ...
Social capital and debt contracting : evidence from bank loans and public bonds
(20.11.2015)
Bank of Finland Research Discussion Papers 21/2015
Bank of Finland Research Discussion Papers 21/2015
We find that firms headquartered in U.S. counties with higher levels of social capital incur lower bank loan spreads. This finding is robust to using organ donation as an alternative social-capital measure and incremental ...
Model-based regulation and firms' access to finance
(15.02.2019)
Bank of Finland Research Discussion Papers 4/2019
Bank of Finland Research Discussion Papers 4/2019
This paper investigates the impact of the model-based approach to bank capital regulation (i.e. the Internal Ratings Based Approach; IRBA) on firms' access to finance. A difference-in-differences methodology is used given ...
Banking globalization, local lending, and labor market effects : Micro-level evidence from Brazil
(14.06.2017)
BOFIT Discussion Papers 11/2017
BOFIT Discussion Papers 11/2017
This paper estimates the effect of a foreign funding shock to banks in Brazil after the collapse of Lehman Brothers in September 2008. Our robust results show that bank-specic shocks to Brazilian parent banks negatively ...
Yritysrahoitus pankkikeskeistä mutta monipuolista
(05.12.2017)
Euro & talous. Analyysi
Euro & talous. Analyysi
Pankkisektori on pienten ja keskisuurten yritysten tärkein rahoittaja Suomessa. Rahoituksen saatavuus ei olekaan pk-yritysten suurimpia ongelmia, mutta vakuusvaatimukset rahoitukselle ovat viime aikoina kiristyneet. Vakaa ...
How should the countercyclical capital buffer requirement be applied?
(18.06.2014)
Bank of Finland. Bulletin 2
Bank of Finland. Bulletin 2
The countercyclical capital buffer requirement is one of the new macroprudential instruments that will come into use in Finland. It enables the strengthening of the banking sector’s resilience to systemic risks resulting ...
Uncertainty shocks and firm creation : Search and monitoring in the credit market
(15.02.2019)
Journal of Economic Dynamics and Control February
Journal of Economic Dynamics and Control February
We develop a business cycle model where endogenous firm creation stems from two credit market frictions. First, entrepreneurs search for a lending relationship with a bank. Second, an optimal debt contract with monitoring ...
The Finnish real estate investment market
(24.05.2018)
Bank of Finland. Bulletin 2/2018
Bank of Finland. Bulletin 2/2018
The Finnish real estate investment market has been exceptionally active in recent years. Sales volumes and market size have grown fast. By international comparison, the Finnish market is large in proportion to the size of ...
The ECB's targeted longer-term refinancing operations have increased bank lending to the private sector
(04.04.2019)
Bank of Finland. Bulletin 1/2019
Bank of Finland. Bulletin 1/2019
In recent years, the ECB has supported bank lending in the euro area by offering long-term financing to banks. The aim of the longer-term refinancing operations (LTROs), the most recent one in particular, was to encourage ...