Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/172324
Authors: 
Giebel, Marek
Kraft, Kornelius
Year of Publication: 
2017
Series/Report no.: 
ZEW Discussion Papers 17-064
Abstract: 
We investigate the effect of individual banks' liquidity shocks during the recent financial crisis of 2008/2009 on the innovation activities of their business customers. Individual banks' liquidity shocks are identified by the degree of interbank market usage. We use a difference-in-differences approach to identify the effect of interbank reliance during the crisis on total innovation expenditures in comparison to the periods before. Our results imply that those firms which have a business relation to a bank with higher interbank market reliance reduce their innovation activities during the financial crisis to a higher degree than other firms.
Subjects: 
financial crisis
financial constraints of banks
financing of innovation
innovation activity
JEL: 
G01
G21
G30
O16
O30
O31
Document Type: 
Working Paper

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