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  1. Regional favoritism in access to credit
    just believe it
    Author: Osei-Tutu, Francis; Weill, Laurent
    Published: 21 March 2023
    Publisher:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    We examine the effect of regional favoritism on the access of firms to credit. Using firm-level data on a large sample of 29,000 firms covering 47 countries, we investigate the hypothesis that firms in the birth regions of national political leaders... more

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    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 686
    Inter-library loan:
    No inter-library loan

     

    We examine the effect of regional favoritism on the access of firms to credit. Using firm-level data on a large sample of 29,000 firms covering 47 countries, we investigate the hypothesis that firms in the birth regions of national political leaders have better access to credit. Our evidence suggests that firms located in birth regions of political leaders are less likely to be credit constrained. The effect takes place through the demand channel: firms in leader regions face fewer hurdles in applying for loans. We find no evidence, however, of preferential lending from banks to firms in leader regions. Thus, regional favoritism affects access to credit through differences in perceptions of firm managers, not deliberate changes in the allocation of resources by political leaders.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523234253
    Other identifier:
    hdl: 10419/270718
    Series: BOFIT discussion papers ; 2023, 1
    Subjects: regional favoritism; access to credit; borrower discouragement
    Scope: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  2. BigTech credit and monetary policy transmission
    micro-level evidence from China
    Author: Huang, Yiping; Li, Xiang; Qiu, Han; Yu, Changhua
    Published: 13 April 2023
    Publisher:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 686
    Inter-library loan:
    No inter-library loan

     

    This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech credit amplifies monetary policy transmission mainly through the extensive margin. Specifically, the BigTech bank is more likely to grant credit to new borrowers compared with conventional banks in response to expansionary monetary policy. The BigTech bank's advantages in information, monitoring, and risk management are the potential mechanisms. In addition, monetary policy has a stronger impact on the real economy through BigTech lending.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523234253
    Other identifier:
    hdl: 10419/271047
    Series: BOFIT discussion papers ; 2023, 2
    Subjects: Financial Technology; Bank Lending; Monetary Policy Transmission
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  3. Modeling semiconductor export restrictions and the US-China trade conflict
    Author: Funke, Michael; Wende, Adrian
    Published: 23 November 2022
    Publisher:  BOFIT, the Bank of Finland Institute for Emerging Economies, Helsinki

    The semiconductor industry stands at the center of the intensifying Sino-American trade conflict. Employing a multi-country, multi-sector general equilibrium modeling framework with imperfect competition and heterogeneous firms, we perform... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 686
    Inter-library loan:
    No inter-library loan

     

    The semiconductor industry stands at the center of the intensifying Sino-American trade conflict. Employing a multi-country, multi-sector general equilibrium modeling framework with imperfect competition and heterogeneous firms, we perform qualitative and quantitative analyses of protectionist semiconductor measures. The paper offers two innovations in assessing the macroeconomic impact of current trade restrictions in the semiconductor industry model. First, our model of the semiconductor industry takes into account semiconductor varieties at different technological levels with different substitutability. Second, we model trade restrictions using a novel approach to export bans on semiconductor varieties that is consistent with US policy. Our simulation results suggest that the trade restrictions imposed by the US and its allies consistently lead to a decline in Chinese GDP and welfare. The US also loses, but to a lesser extent. The effect of trade diversion favors the rest of the world. Our simulations further confirm that the US semiconductor industry is likely to be harmed by the restrictions, while China's could be strengthened.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789523234253
    Other identifier:
    hdl: 10419/266395
    Series: BOFIT discussion papers ; 2022, 13
    Subjects: International trade; firm heterogeneity; semiconductors; United States; China
    Scope: 1 Online-Ressource (circa 50 Seiten), Illustrationen