We provide evidence that a weak banking sector has contributed to low productivity growth following the European … natural experiment to study the effects of reduced bank capital adequacy on productivity. Affected banks respond not only by … the resulting increase in factor misallocation accounts for 20% of the decline in productivity in Portugal in 2012. …

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper … examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a novel identification scheme …-to-labor ratio, and productivity. The transmission from changes in credit supply to firm productivity relates to labor market …

We study the impact of bank credit on firm productivity. We exploit a matched firm-bankdatabase covering all the credit …

. Controlling for demand in the product market, we find that the contraction in credit supply reduced labour productivity, wages and …

characteristics (ex-ante credit risk and productivity) interacting with two macroeconomic indicators (business cycle and the monetary … is especially relevant in the case of firms' productivity, which might partly explain the dismal evolution of aggregate … productivity in Spain during the pre-crisis period. Finally, we also find that these results are more pronounced among less …

We study the impact of bank credit supply on firm output and productivity. By exploiting a matched firm-bank database … revenues) for a given level of inputs. Our estimates imply that a credit crunch will be followed by a productivity slowdown, as … account for about a quarter of the observed decline in Italy's total factor productivity growth. The results are robust to an …

We study the impact of bank credit supply on firm output and productivity. By exploiting a matched firm-bank database … revenues) for a given level of inputs. Our estimates imply that a credit crunch will be followed by a productivity slowdown, as … account for about a quarter of the observed decline in Italy's total factor productivity growth. The results are robust to an …

bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … constrains the growth of more productive firms, to the detriment of aggregate productivity growth. Our results suggest that …

factor productivity and aggregate productivity growth, as new entrants, typically using technologies that are more advanced … through lower values of provisions to total loans, has a negative effect on the change of total factor productivity (in …