| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11595 |
| DP11595 Political Borders and Bank Lending in Post-Crisis America | |
| Andrew Rose; Matthieu Chavaz | |
| 发表日期 | 2016-11-01 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We use spatial discontinuities associated with congressional district borders to identify the effect of political influences on American banks’ lending. We show that recipients of the 2008 public capital injection program (TARP) increased mortgage and small business lending by 23% to 60% more in areas located inside their home-representative’s district than elsewhere. The impact is stronger if the representative supported the TARP in Congress, was subsequently re-elected, and received more political contributions from the financial industry. Together, these results suggest that political considerations influence credit allocation in a politically mature system like the United States without the formal possibility of political interference in lending decisions, and that this influence is larger if the flows between banks and politicians are reciprocal. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Empirical Data Panel Fixed Effect County District Congress Policy Mortgage |
| URL | https://cepr.org/publications/dp11595 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540409 |
| 推荐引用方式 GB/T 7714 | Andrew Rose,Matthieu Chavaz. DP11595 Political Borders and Bank Lending in Post-Crisis America. 2016. |
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