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dc.contributor.authorKipar, Stefanen
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
dc.language.isoengen
dc.publisher|aifo Institute - Leibniz Institute for Economic Research at the University of Munich |cMunichen
dc.relation.ispartofseries|aifo Working Paper |x109en
dc.subject.jelG01en
dc.subject.jelG21en
dc.subject.jelG30en
dc.subject.jelO16en
dc.subject.jelO30en
dc.subject.ddc330en
dc.subject.keywordFinancial crisisen
dc.subject.keywordinnovationen
dc.subject.keywordcredit constraintsen
dc.subject.keywordinstrumental variablesen
dc.subject.stwFinanzmarktkriseen
dc.subject.stwInnovationen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwInstrumentalvariablen-Schätzmethodeen
dc.titleThe Effect of Restrictive Bank Lending on Innovation: Evidence from a Financial Crisis-
dc.typeWorking Paperen
dc.identifier.ppn669988588en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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