credit constraints on firm-level innovation. We find that access to bank credit helps firms to adopt existing products and … acquiring external know-how. We find no evidence that bank credit also stimulates firm innovation through in-house R&D. This …

This paper analyzes the development of the banking sector in European transition countries. We find that, although bank … major players in the financial system of these countries. However, foreign bank presence and financial development in … than domestic banks. Furthermore, it appears that foreign and domestic bank performance tend to converge. …