气候政策与跨境贷款：来自银团贷款市场的证据

IF 1.5 4区社会学 Q2 SOCIAL SCIENCES, INTERDISCIPLINARY

Economic and Political Studies-EPS Pub Date : 2021-10-02 DOI:10.1080/20954816.2021.1976904

Emanuela Benincasa

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引用次数: 3

摘要

气候政策的跨国差异会影响银行贷款吗?本文关注2007-2017年期间，并使用银团贷款水平数据来检验母国气候政策的严格程度是否会增加跨境银行贷款。贷款固定效应使我们能够将贷款需求与供应分开，并控制未观察到的和观察到的贷款和企业特征。我发现有证据表明，严格的母国气候政策与银行跨境贷款份额的增加有关。这表明，如果各国政府之间不加强全球协调，向低碳经济的转型可能会受到威胁。

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Climate policy and cross-border lending: evidence from the syndicated loan market

Abstract Do cross-country differences in climate policy influence bank lending? This paper focusses on the period 2007–2017 and uses syndicated loan-level data to examine if the stringency of home-country climate policies increases cross-border bank lending. Loan fixed effects allow us to disentangle loan demand from supply and to control for unobserved and observed loan and firm characteristics. I find evidence that a strict home-country climate policy is associated with an increase in banks’ cross-border loan shares. This suggests that the transition to a low-carbon economy might be threatened if global coordination between governments is not enforced.

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来源期刊

Economic and Political Studies-EPS SOCIAL SCIENCES, INTERDISCIPLINARY-

CiteScore

5.60

自引率

4.20%

发文量