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Credit Constraints and Investment in Human Capital : Training Evidence from Transition Economies

Popov, Alexander - 2013

general, and to bank credit in particular, is associated with significantly lower investment in on-the-job training. This …

Persistent link: https://www.econbiz.de/10013073659

Credit Constraints, Firm Investment and Growth : Evidence from Survey Data

Garcia-Posada, Miguel - 2018

We assess the impact of credit constraints on investment, inventories and other working capital and firm growth with a …, as firms with poor investment and growth opportunities may have a higher probability of being credit constrained. We … implement several strategies to overcome this obstacle: proxies for investment opportunities, lagged regressors, random effects …

Persistent link: https://www.econbiz.de/10012928556

Monetary Policy and Intangible Investment

Döttling, Robin - 2020

We contrast how monetary policy affects intangible relative to tangible investment. We document that the stock prices … total investment in firms with more intangible assets responds less to monetary policy, and that intangible investment … responds less to monetary policy compared to tangible investment. We identify two mechanisms behind these results. First, firms …

Persistent link: https://www.econbiz.de/10012828075

When Losses Turn into Loans : The Cost of Undercapitalized Banks

Blattner, Laura - 2019

We provide evidence that a weak banking sector has contributed to low productivity growth following the European sovereign debt crisis. An unexpected increase in capital requirements for a subset of Portuguese banks in 2011 provides a natural experiment to study the effects of reduced bank...

Persistent link: https://www.econbiz.de/10012889191

Breaking the Shackles : Zombie Firms, Weak Banks and Depressed Restructuring in Europe

Andrews, Dan - 2019

This paper explores the connection between "zombie" firms (firms that would typically exit in a competitive market) and bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the results show that zombie firms are more likely to be...

Persistent link: https://www.econbiz.de/10012892781

The Impact of Supply Constraints on Bank Lending in the Euro Area - Crisis Induced Crunching?

Hempell, Hannah Sabine - 2010

Aggregate loan development typically hinges on a combination of factors that impact simultaneously on the demand and the supply side of bank lending. The financial turmoil starting in mid-2007 had detrimental consequences for banks' balance-sheets, cost of funds and profitability, thus weighing...

Persistent link: https://www.econbiz.de/10013136644

Firms and the Global Crisis : French Exports in the Turmoil

Bricongne, Jean-Charles - 2010

Global trade contracted quickly and severely during the global crisis. This paper, using a unique dataset of French firms, matching together export data with firm-level credit constraints, shows that most of the 2008-2009 trade collapse is accounted by the unprecedented demand shock and by...

Persistent link: https://www.econbiz.de/10013138158

Trusting the Bankers : A New Look at the Credit Channel of Monetary Policy

Ciccarelli, Matteo - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand are difficult to disentangle. To address this issue, we use the detailed answers from the US and the confidential and unique Euro area bank lending surveys. Embedding this...

Persistent link: https://www.econbiz.de/10013141032

Cross-Border Banking and the International Transmission of Financial Distress During the Crisis of 2007-2008

Popov, Alexander - 2010

We study the effect of financial distress in foreign parent banks on local SME financing in 14 central and eastern European countries during the early stages of the 2007-2008 financial crisis. We use survey data on applicant and non-applicant firms that enable us to disentangle effects driven by...

Persistent link: https://www.econbiz.de/10013143334

Bubbles, Banks and Financial Stability

Aoki, Kōsuke - 2012

We build a model of rational bubbles in a limited commitment economy and show that the impact of the bubble on the real economy crucially depends on who holds the bubble. When banks are the bubble-holders, this amplifies the output boom while the bubble survives but also deepens the recession...

Persistent link: https://www.econbiz.de/10013097948