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dc.contributor.authorKipar, Stefanen_US
dc.date.accessioned2011-08-31T12:45:30Z-
dc.date.available2011-08-31T12:45:30Z-
dc.date.issued2011-08-
dc.identifier.urihttp://hdl.handle.net/10419/49041-
dc.description.abstractUsing unique micro-data on German firms, this paper estimates the effect of restrictive bank lending on innovation. In the German three-pillar banking system, comprised of commercial banks, credit unions, and savings banks, firms were differently affected in their ability to raise external debt during the financial crisis depending on the pillar to which their main relationship bank belonged. Using this institutional feature as an instrument for credit access reveals that restrictive bank lending increases a firm’s probability of discontinuing innovation projects by 21.6 percentage points.en_US
dc.language.isoengen_US
dc.publisherifo Working Paperen_US
dc.relation.ispartofseriesifo Working Paper 109-
dc.subject.jelG01en_US
dc.subject.jelG21en_US
dc.subject.jelG30en_US
dc.subject.jelO16en_US
dc.subject.jelO30en_US
dc.subject.ddc330-
dc.subject.keywordFinancial crisisen_US
dc.subject.keywordinnovationen_US
dc.subject.keywordcredit constraintsen_US
dc.subject.keywordinstrumental variablesen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwInnovationen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwInstrumentalvariablen-Schätzmethodeen_US
dc.titleThe Effect of Restrictive Bank Lending on Innovation: Evidence from a Financial Crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn669988588-
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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Ifo Working Papers
Working and Discussion Papers / Arbeits- und Diskussionspapiere, EconStor Direct

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