| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17186 |
| DP17186 International Financial Flows and Misallocation: Evidence from Micro Data | |
| Federico Cingano; Fadi Hassan | |
| 发表日期 | 2022-04-06 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Using detailed bank-firm matched data, we study the impact of international financial flows on misallocation. We exploit a boom of capital inflows in Italy and identify the patterns of credit allocation by banks with different exposure to such boom. We find that exposed banks tilt credit supply to high-productivity firms and that credit allocation reduces the dispersion of productivity having a positive impact on aggregate TFP growth. We explore alternative drivers of misallocation and find evidence that, in a context of raising financial deepening, the expansion of banks funded by an increase of bonds sold domestically is responsible. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Capital flows Misallocation Productivity |
| URL | https://cepr.org/publications/dp17186 |
| 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/546180 |
| 推荐引用方式 GB/T 7714 | Federico Cingano,Fadi Hassan. DP17186 International Financial Flows and Misallocation: Evidence from Micro Data. 2022. |
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