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Does bank competition influence the lending channel in the euro area?

Fungácová, Zuzana; Solanko, Laura; Weill, Laurent - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013

with extensive market power. Further investigation shows that banks with less market power were more sensitive to monetary … policy only before the financial crisis. These results suggest that the bank market power has a significant impact on … monetary policy effectiveness. Therefore, wide variations in the level of bank market power may lead to asymmetric effects of a …

Persistent link: https://www.econbiz.de/10011191520

Who gains from credit granted between firms? Evidence from inter-corporate loan announcements made in China

He, Qing; Lu, Liping; Ongena, Steven - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2015

Who gains from inter-corporate credit? To answer this question we investigate the reactions of the stock prices of both the issuing and receiving firms to the announcements of 719 inter-corporate loans that took place between 2005 and 2012 in China. We find that the average abnormal return for...

Persistent link: https://www.econbiz.de/10011144116

The Influence of Bank Ownership on Credit Supply: Evidence from the Recent Financial Crisis

Fungacova, Zuzana; Herrala, Risto; Weill, Laurent - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011

This study examines how bank ownership influenced the credit supply during the recent financial crisis in Russia, where the banking sector consists of a mix of state-controlled banks, foreign-owned banks, and domestic private banks. To estimate credit supply changes, we employ an exhaustive...

Persistent link: https://www.econbiz.de/10009645239

Bank pricing under oligopsony-oligopoly: Evidence from 103 developing countries

Marrouch, Walid; Turk-Ariss, Rima - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012

derive a pricing structure that acknowledges market power in both the deposit and loan markets and identify two theoretical … structure in banks’ pricing power. …

Persistent link: https://www.econbiz.de/10009649723

Foreign bank lending and information asymmetries in China

Pessarossi, Pierre; Godlewski, Christophe J.; Weill, Laurent - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2010

This paper considers whether information asymmetries affect the willingness of foreign banks to participate in syndicated loans to corporate borrowers in China. In line with theoretical literature, ownership concentration of the borrowing firm is assumed to influence information asymmetries in...

Persistent link: https://www.econbiz.de/10008774235

When arm’s length is too far. Relationship banking over the business cycle

Beck, Thorsten; Degryse, Hans; De Haas, Ralph; van … - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 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/10010945007

Bank cost efficiency in Kazakhstan and Russia

Peresetsky, Anatoly - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2010

The Kazakhstan banking system is increasingly viewed as more advanced than the Russian system. Kazakhstan adopted the International Accounting System (IAS) in 2003 and the Basel II norms in 2005, while Russia has yet to fully adopt either IAS or Basel II. In this paper, bank data for 2002-2006...

Persistent link: https://www.econbiz.de/10008594471

Informal or formal financing? Or both? First evidence on the co-funding of Chinese firms

Degryse, Hans; Lu, Liping; Ongena, Steven - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013

The recent financial crisis has reopened the debate on the impact of informal and formal finance on firm growth in developing countries. Using unique survey data, we find that informal finance is associated with higher sales growth for small firms and lower sales growth for large firms. We...

Persistent link: https://www.econbiz.de/10010674217

Why do large firms go for Islamic loans?

Weill, Laurent; Godlewski, Christophe - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012

This paper examines motivations for large firms to choose an Islamic loan over a conventional loan. This investigation helps understanding the causes of the expansion of Islamic finance activities. We employ a dataset of Islamic and conventional syndicated loans from countries from the Middle...

Persistent link: https://www.econbiz.de/10010541047

Causality between credit depth and economic growth: Evidence from 24 OECD countries

Stolbov, Mikhail - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 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 threefold methodology to test for causal linkages integrates (i)...

Persistent link: https://www.econbiz.de/10011273263