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Corruption, political connections, and municipal finance

Butler, Alexander W.; Fauver, Larry; Mortal, Sandra - In: The review of financial studies 22 (2009) 7, pp. 2873-2905

Persistent link: https://www.econbiz.de/10003866877

Corruption, Political Connections, and Municipal Finance

Butler, Alexander W. - 2010

We show that state corruption and political connections have strong effects on municipal bond sales and underwriting …. Higher state corruption is associated with greater credit risk and higher bond yields. Corrupt states can eliminate the … corruption yield penalty by purchasing credit enhancements. Underwriting fees were significantly higher during an era when …

Persistent link: https://www.econbiz.de/10013152470

Financial Integration and Credit Democratization : Linking Banking Deregulation to Economic Growth

Berger, Elizabeth - 2020

We use a matching method that constructs synthetic counterfactual states to identify the channels that link bank deregulation to financial integration, and thereby to economic growth. We document a positive, but conditional, effect of financial integration on economic growth. We explore the...

Persistent link: https://www.econbiz.de/10012857207

Financial integration and credit democratization : Linking banking deregulation to economic growth

Berger, Elizabeth A.; Butler, Alexander W.; Hu, Edwin; … - In: Journal of financial intermediation 45 (2021), pp. 1-14

Persistent link: https://www.econbiz.de/10012656590