| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11901 |
| DP11901 Credit Misallocation During the European Financial Crisis | |
| Fabiano Schivardi; Guido Tabellini; Enrico Sette | |
| 发表日期 | 2017-07-18 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Using data on bank-firm relationships in Italy during the Eurozone financial crisis, we show that: (i) compared to healthy banks, under-capitalized banks cut credit to healthy but not to zombie firms and are more likely to prolong a credit relationship with a zombie; (ii)\ in areas-sectors with more low-capital banks, zombies are more likely to survive; (iii) nevertheless, bank under-capitalization does not hurt the growth rate of healthy firms. We provide evidence that extending credit to the weakest firms during the recession mitigated the disruption of supply chains and adverse local demand externalities. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Bank capitalization Zombie lending Capital misallocation |
| URL | https://cepr.org/publications/dp11901-2 |
| 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/540966 |
| 推荐引用方式 GB/T 7714 | Fabiano Schivardi,Guido Tabellini,Enrico Sette. DP11901 Credit Misallocation During the European Financial Crisis. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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