The cleansing effect of banking crises / Reint E. Gropp, Steven Ongena, Jörg Rocholl, Vahid Saadi
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Discovery
1724614932
URN
urn:nbn:de:gbv:3:2-122769
DOI
ISBN
ISSN
Autorin / Autor
Beiträger
Körperschaft
Erschienen
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [14. Juli 2020]
Umfang
1 Online-Ressource (III, 54 Seiten, 2,9 MB) : Diagramme
Ausgabevermerk
Sprache
eng
Anmerkungen
Inhaltliche 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.
Schriftenreihe
IWH-Diskussionspapiere ; 2020, No. 12 (July 2020) ppn:837399270