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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 ...
Exchange rate fluctuations and the financial channel in emerging economies
(30.08.2021)
BOFIT Discussion Papers 11/2021
BOFIT Discussion Papers 11/2021
This paper assesses the financial channel of exchange rate fluctuations for emerging countries and the link to the conventional trade channel. We analyze whether the effective exchange rate affects GDP growth, the domestic ...
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, ...
Managerial and financial barriers to the net-zero transition
(17.05.2021)
BOFIT Discussion Papers 6/2021
BOFIT Discussion Papers 6/2021
We use data on 11,233 firms across 22 emerging markets to analyze how credit constraints and low-quality firm management inhibit corporate investment in green technologies. For identification we exploit quasi-exogenous ...
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 ...
Bank risk-taking and monetary policy transmission : Evidence from China
(29.10.2021)
BOFIT Discussion Papers 15/2021
BOFIT Discussion Papers 15/2021
We study the impact of China’s 2013 implementation of Basel III on bank risk-taking and its responses to monetary policy shocks using confidential loan-level data from a large Chinese bank. Guided by theory, we use a ...
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 ...
Patterns and drivers of household income dynamics in Russia : The role of access to credit
(07.05.2020)
BOFIT Discussion Papers 11/2020
BOFIT Discussion Papers 11/2020
The microeconomic drivers of medium- and short-term income mobility in Russia over the period 1996–2016 are investigated using data from the Russian Longitudinal Monitoring Survey (RLMS). Focusing on the role of access to ...
Sex, language, and financial inclusion
(01.04.2020)
BOFIT Discussion Papers 9/2020
BOFIT Discussion Papers 9/2020
Reference to gender in language can lead individuals to draw distinctions between genders and reinforce traditional views of gender roles. To test our hypothesis that language gender-marking exerts an influence on the ...