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This paper evaluates the effect of Chinese monetary policy shocks on credit creation through the shadow banking sector … projection was then estimated, using the surprise measure as an instrument. The results give two key findings: 1) shadow credit …
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Pecking order models of international finance suggest that countries should become less reliant on international bank lending as they develop. Reduced information costs are one of the factors behind this trend towards disintermediation. This paper presents a simple model on the choice between...
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. Despite the hype, equity crowdfunding is still the smallest. Due to exemptions in legislations, Europe has been at the … start-ups can play job creation and economic growth in Europe. In this paper, we assess the potential role of equity …
Persistent link: https://www.econbiz.de/10013046686
find that: bond finance dampens the overall response of firm credit to monetary policy shocks in economies with a high …
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