G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16745
DP16745 Carbon Taxes and the Geography of Fossil Lending
Luc Laeven; Alexander Popov
发表日期2021-11-22
出版年2021
语种英语
摘要Using data on syndicated loans, we find that the introduction of a carbon tax is associated with an increase in domestic banks' lending to coal, oil, and gas companies in foreign countries. This effect is particularly pronounced for banks with large prior fossil-lending exposures, while bank capital and profitability do not play a role. In addition, banks reallocate a relatively larger share of their fossil loan portfolio to countries without a carbon tax. Our findings speak to the importance of a global carbon tax to prevent the reallocation of carbon emissions across national borders via financial markets.
主题Financial Economics
关键词Carbon taxes Cross-border lending Climate change
URLhttps://cepr.org/publications/dp16745
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/545679
推荐引用方式
GB/T 7714
Luc Laeven,Alexander Popov. DP16745 Carbon Taxes and the Geography of Fossil Lending. 2021.
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