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Spillover Effects, Bank Lending and Growth

Altug, Sumru G.; Usman, Murat - C.E.P.R. Discussion Papers - 2004

In this Paper, we examine bank lending decisions in an economy with spillover effects in the creation of new investment opportunities and asymmetric information in credit markets. We show that such features may lead to strategic considerations in the loan extension decision and in the pricing of...

Persistent link: https://www.econbiz.de/10005789112

Information Sharing in Credit Markets

Jappelli, Tullio; Pagano, Marco - C.E.P.R. Discussion Papers - 1991

We present a model with adverse selection where information sharing between lenders arises endogenously. Lenders' incentives to share information about borrowers are positively related to the mobility and heterogeneity of borrowers, to the size of the credit market and to advances in information...

Persistent link: https://www.econbiz.de/10005792145

Systemic Risk: A Survey

de Bandt, Olivier; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2000

This Paper develops a broad concept of systemic risk, the basic economic concept for the understanding of financial … related payment and settlement systems. At the heart of systemic risk are contagion effects, various forms of external effects … systemic risk, which has evolved swiftly in the last couple of years, is surveyed in the light of this concept. Various …

Persistent link: https://www.econbiz.de/10005114152

Finance and Efficiency: Do Bank Branching Regulations Matter?

Acharya, Viral V; Imbs, Jean; Sturgess, Jason - C.E.P.R. Discussion Papers - 2007

We use portfolio theory to quantify the efficiency of state-level sectoral patterns of production in the United States. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for investments in the real economy, the efficient Sharpe...

Persistent link: https://www.econbiz.de/10005504526

Banking and Development

Sussman, Oren; Zeira, Joseph - C.E.P.R. Discussion Papers - 1995

This paper reformulates the well known financial development conjecture (FDC) and supplies some new empirical evidence in its favour. The financial development conjecture, namely, that there exist strong feedback effects between real and financial development, is described in this paper by use...

Persistent link: https://www.econbiz.de/10005498084

Group Lending Without Joint Liability

de Quidt, Jonathan; Fetzer, Thiemo; Ghatak, Maitreesh - C.E.P.R. Discussion Papers - 2013

This paper contrasts individual liability lending with and without groups to joint liability lending. By doing so, we shed light on an apparent shift away from joint liability lending towards individual liability lending by some microfinance institutions First we show that individual lending...

Persistent link: https://www.econbiz.de/10011083228

Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock

Karlan, Dean S.; Osman, Adam; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2013

Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and...

Persistent link: https://www.econbiz.de/10011083720

When Arm’s Length Is Too Far. Relationship Banking over the Business Cycle

Beck, Thorsten; de Haas, Ralph; Degryse, Hans; Van … - C.E.P.R. Discussion Papers - 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 direct vicinity of firms to these firms’ credit constraints at two...

Persistent link: https://www.econbiz.de/10011083851

Finance and Poverty: Evidence from India

Ayyagari, Meghana; Beck, Thorsten; Hoseini, Mohammad - C.E.P.R. Discussion Papers - 2013

Using state-level data from India over the period 1983 to 2005, this paper gauges the effect of financial deepening and outreach on rural poverty. Following the 1991 liberalization episode, we find a strong negative relationship between financial deepening, rather than financial breadth, and...

Persistent link: https://www.econbiz.de/10011083926

The miracle of microfinance? Evidence from a randomized evaluation

Banerjee, Abhijit; Duflo, Esther; Glennerster, Rachel; … - C.E.P.R. Discussion Papers - 2013

This paper reports on the first randomized evaluation of the impact of introducing the standard microcredit group-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, India were randomly selected for opening of a branch of a particular microfinance institution...

Persistent link: https://www.econbiz.de/10011084414