In this paper, we analyze the role bank capital played in systemic banking crises and in lending expansion and contraction for nearly 150 years in Spain. We first build a measure of capital ratio (i.e., the capital to assets ratio) for Spain's banking sector, starting in 1880. Then, we analyze...

Long-span time series on credit by institutional sectors and industries are not readily available in Denmark. The paper constructs annual time series for credit to Danish residents by sector and industry 1951-2005 and explores the trends and cycles in credit during the past five decades. There...

Long-span time series on credit by institutional sectors and industries are not readily available in Denmark. The paper constructs annual time series for credit to Danish residents by sector and industry 1951-2005 and explores the trends and cycles in credit during the past five decades. There...

We analyze the impact of decreases in available lending resources on quantitative and qualitative dimensions of firms' patenting activities. We thereby make use of the European Banking Authority?s capital exercise to carve out the causal effect of bank lending on firm innovation. In order to do...

In this paper we analyze the effect of bank capital on lending expansion and contraction for nearly 150 years in Spain. We fi rst build up thoroughly a measure of bank leverage (i.e. the capital to assets ratio) for the Spanish banking sector starting in year 1880. Then, we run a proper...

We study how relationships between firms and banks evolved between during the Twentieth century in Britain. We document and explain a remarkable transition from single to multiple firm-bank relationships during the last twenty years of the sample period. Larger, global, or transparent companies...