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Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
IWH Discussion Papers No. 12/2020
Verlag: 
Halle Institute for Economic Research (IWH), Halle (Saale)
Zusammenfassung: 
We assess the cleansing effects of the recent banking crisis. In U.S. regions with higher levels of supervisory forbearance on distressed banks during the crisis, there is less restructuring in the real sector and the banking sector remains less healthy for several years after the crisis. Regions with less supervisory forbearance experience higher productivity growth after the crisis with more firm entries, job creation, and employment, wages, patents, and output growth. Supervisory forbearance is greater for state-chartered banks and in regions with weaker banking competition and more independent banks, while recapitalisation of distressed banks through TARP does not facilitate cleansing.
Schlagwörter: 
cleansing effect
banking crises
supervisory for bearance
productivity growth
JEL: 
G01
G21
G28
O43
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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