Haku
Viitteet 1-10 / 36
Russia's 1999–2000 election cycle and the politics-banking interface
(01.11.2017)
BOFIT Discussion Papers 17/2017
BOFIT Discussion Papers 17/2017
We investigate whether lending by the dominant Russian state bank, Sberbank, contributed to Vladimir Putin’s ascent to power during the presidential elections of March 2000. Our hypothesis is that Sberbank corporate loans ...
Banks as corporate monitors: Evidence from CEO turnovers in China
(19.12.2016)
BOFIT Discussion Papers 19/2016
BOFIT Discussion Papers 19/2016
This paper examines the governance role of banks in replacement of underperforming CEOs in firms listed on Chinese stock exchanges. Under most circumstances, the findings suggest that the presence of outstanding loans ...
Crony banking and local growth in China
(12.05.2017)
BOFIT Discussion Papers 8/2017
BOFIT Discussion Papers 8/2017
The rise of city commercial banks (CCBs) in Chinese cities provides a unique opportunity to study the finance and growth nexus at the city level. Given the notorious inefficiency of China's “Big Four” state banks, policymakers ...
Risks in China’s financial system
(17.01.2018)
BOFIT Discussion Papers 1/2018
BOFIT Discussion Papers 1/2018
Motivated by growing concerns about the risks and instability of China’s financial system, this article reviews several commonly perceived financial risks and discusses their roots in China’s politico-economic institutions. ...
The credit risk of Chinese households : A micro-level assessment
(07.05.2018)
BOFIT Discussion Papers 12/2018
BOFIT Discussion Papers 12/2018
Household borrowing in China has increased considerably in recent years, raising concerns about the household sector’s vulnerability and implications for the stability of the financial system. We construct a number of ...
Oil price collapse and firm leverage in resource-dependent countries
(26.04.2018)
BOFIT Discussion Papers 10/2018
BOFIT Discussion Papers 10/2018
This study examines the financial channel between oil price volatility and the resource curse using firm-level data. A collapse in oil prices adversely affects firm borrowing in resource-dependent countries. However, unlike ...
Permissible collateral and access to finance: Evidence from a quasi-natural experiment
(31.01.2018)
BOFIT Discussion Papers 3/2018
BOFIT Discussion Papers 3/2018
By allowing large classes of movable assets to be used as collateral, the Property Law reform trans-formed the secured transactions in China. Difference-in-differences tests show firms operating with ex-ante more movable ...
Do banks extract informational rents through collateral?
(17.03.2016)
BOFIT Discussion Papers 5/2016
BOFIT Discussion Papers 5/2016
This paper investigates if relationship lending and bank market concentration permit informational rent extraction through collateral. We use equity IPOs as informational shocks that erode rent seeking opportunities. Using ...
Does bank competition reduce cost of credit? Cross-country evidence from Europe
(30.03.2016)
BOFIT Discussion Papers 6/2016
BOFIT Discussion Papers 6/2016
Despite the extensive debate on the effects of bank competition, only a handful of single-country studies deal with the impact of bank competition on the cost of credit. We contribute to the literature by investigating the ...
Monetary policy shocks and peer-to-peer lending in China
(05.12.2019)
BOFIT Discussion Papers 23/2019
BOFIT Discussion Papers 23/2019
This paper studies monetary policy transmission in China’s peer-to-peer lending market. Using spectral measures of causality, we explore the impacts of Chinese monetary policy shocks on China’s P2P market interest rates ...