Japanese banking crisis. By leveraging a unique dataset merging firm-level financial statements and bank balance sheets, the … study aims to examine whether the capital injections primarily benefited high-productivity firms or were misallocated to … struggling "zombie" firms. The empirical results suggest that banks, post-injection, increased lending to both high-productivity …

banks can help mitigate financial shocks. This paper examines the role of Brazil's government banks in preventing a … recession during the 2008-2010 financial crisis. Government banks in Brazil provided more credit, which offset declines in … lending by private banks. Areas in Brazil with a high share of government banks experienced increases in lending, production …