Haku
Viitteet 1-10 / 12
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 ...
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 ...
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 ...
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 ...
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 ...
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. ...
Does lending relationship help or alleviate the transmission of liquidity shocks? Evidence from a liquidity crunch in China
(08.05.2018)
BOFIT Discussion Papers 13/2018
BOFIT Discussion Papers 13/2018
We examine China’s June 2013 liquidity crunch as a negative shock to banks and analyze the wealth effects on exchange-listed firms. Our findings suggest that liquidity shocks to financial institutions negatively impact ...