Haku
Viitteet 1-5 / 5
Government credit and trade war
(23.04.2019)
BOFIT Discussion Papers 7/2019
BOFIT Discussion Papers 7/2019
By merging transaction-level trade data from China Customs and loan data from the China Development Bank (CDB), we analyze the effects of government credit on trade activities. We find that CDB credit mainly flows to SOEs ...
Should we care? : The economic effects of financial sanctions on the Russian economy
(29.07.2019)
BOFIT Discussion Papers 13/2019
BOFIT Discussion Papers 13/2019
We employ a Bayesian VAR model to estimate the economic effects on the Russian economy from Western financial sanctions imposed in 2014. Sanctions caused a decrease in the amount of out-standing Russian corporate external ...
Lending cycles and real outcomes : Costs of political misalignment
(21.01.2019)
BOFIT Discussion Papers 1/2019
BOFIT Discussion Papers 1/2019
We use data on the universe of credit in Turkey to document a strong political lending cycle. State-owned banks systematically adjust their lending around local elections compared with private banks in the same province. ...
Political connections and firm pollution behaviour : An empirical study
(27.02.2019)
BOFIT Discussion Papers 4/2019
BOFIT Discussion Papers 4/2019
A firm's top manager and a government official may be connected due to special circumstances. This social relationship or political connection may provide industrial polluters with protection or a “pollution shelter” which ...
Ownership structure and the cost of debt : Evidence from the Chinese corporate bond market
(19.09.2019)
BOFIT Discussion Papers 18/2019
BOFIT Discussion Papers 18/2019
Drawing upon evidence from the Chinese corporate bond market, we study how ownership structure affects the cost of debt for firms. Our results show that state, institutional and foreign ownership formats reduce the cost ...