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Bank Lending in the Knowledge Economy
| Content Provider | Scilit |
|---|---|
| Author | Dell'Ariccia, Giovanni Kadyrzhanova, Dalida Minoiu, Camelia Ratnovski, Lev |
| Copyright Year | 2017 |
| Description | Journal: SSRN Electronic Journal We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show that, as firms shift toward intangible assets that have lower collateral values, banks reallocate their portfolios away from commercial loans toward other assets, primarily residential real estate loans and liquid assets. This effect is more pronounced for large and less well capitalized banks and is robust to controlling for real estate loan demand. Our results suggest that increased firm investment in intangible assets can explain up to 20% of bank portfolio reallocation from commercial to residential lending over the last four decades. |
| Related Links | https://www.imf.org/~/media/Files/Publications/WP/2017/wp17234.ashx https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=2886694 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.2886694 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2017-05-04 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |
