Haku
Viitteet 1-10 / 20
When arm’s length is too far. Relationship banking over the business cycle
(07.07.2014)
BOFIT Discussion Papers 14/2014
BOFIT Discussion Papers 14/2014
Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the ...
Economic concentration and finance: Evidence from Russian regions
(18.05.2015)
BOFIT Discussion Papers 18/2015
BOFIT Discussion Papers 18/2015
The paper investigates the relationship between economic concentration and level of financial development to illuminate the linkage of real economy structure and financial markets. Using data from 81 Russian regions for ...
Financing nascent industry : Leverage, politics, and performance in Imperial Russia
(08.03.2020)
BOFIT Discussion Papers 7/2020
BOFIT Discussion Papers 7/2020
This paper explores the dynamics of corporate finance during the early stages of industrial growth by examining a newly constructed panel database of Imperial Russian industrial corporations’ balance sheets. We document ...
Causality between credit depth and economic growth: Evidence from 24 OECD countries
(30.04.2015)
BOFIT Discussion Papers 15/2015
BOFIT Discussion Papers 15/2015
Causality between the ratio of domestic private credit to GDP and growth in real GDP per capita is investigated in a country-by-country time-series framework for 24 OECD economies over the period 1980–2013. The proposed ...
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 ...
Natural resources and capital structure
(29.08.2016)
BOFIT Discussion Papers 10/2016
BOFIT Discussion Papers 10/2016
This paper examines the effect of natural resources on capital structure of the firm. Using an extensive dataset of listed firms in 70 countries, we show that firms operating in resource extraction industries have less ...
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 ...
Financial market reform – A new driver for China’s economic growth?
(13.02.2015)
BOFIT Discussion Papers 5/2015
BOFIT Discussion Papers 5/2015
This paper analyses the financial distortions – growth nexus in China using a tractable general equilibrium modelling approach in which heterogeneous private and state-owned firms interact. The focal points of the model ...
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 ...
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, ...