Urbanization and firm access to credit

Carmignani, Amanda; Blasio, Guido de; Demma, Cristina; D’Ignazio, Alessio

doi:10.1111/jors.12525

Cited by 56 publications

(3 citation statements)

References 38 publications

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“…In this strand of the literature, the main issue is the environment in which intermediaries and markets provide financial services. For example, Carmignani et al (2021) investigate the link between urban agglomeration and access to credit for firms: they find that being in a well‐agglomerated area tend to ease financing constraints for firms. Rodriguez‐Pose et al (2020) study empirically credit rationing among European firms and find that high‐quality regional institutions help mitigate the problem of credit constraints and the negative productivity returns of inefficient financial markets.…”

Section: Background Literaturementioning

confidence: 99%

Financial development and growth in European regions

Rossi

Scalise

2021

Journal of Regional Science

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We study the relationship between financial development and economic growth across 110 European regions from 1997 to 2018. We single out two dimensions of financial development in the data capturing the capillarity of bank branches and the agglomeration of the financial industry at large and study their relationship with regional economic growth. To establish a causal nexus, we employ two-ways fixed effects, instrumental variables, and the Arellano-Bond estimator. Our estimates indicate that what matters the most for regional economic growth is the agglomeration of a complex financial sector rather than the mere presence of bank branches.

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Section: Background Literaturementioning

confidence: 99%

Financial development and growth in European regions

Rossi

Scalise

2021

Journal of Regional Science

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“…To mitigate the endogeneity of missing variables, we also add a series of controls by following recent studies (Carmignani et al, 2021 ; Emefiele et al, 2022 ; Sugimoto & Enya, 2022 ). The ratio of bank liquid reserves to bank assets (Reserve) , which reflects the bank reserves level of a country.…”

Section: Additional Robustness Checksmentioning

confidence: 99%

“…The ratio of the urban population to the total population (Urban) , which reflects the level of urbanization. Carmignani et al ( 2021 ) show that the level of urbanization has a positive impact on access to credit. Consequently, the above three variables (Reserve, FDI, and Urban) should be included as controls for this study.…”

Section: Additional Robustness Checksmentioning

confidence: 99%

The impact of climate risk on credit supply to private and public sectors: an empirical analysis of 174 countries

2022

Environ Dev Sustain

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In recent years, risk has been increasingly a long-term environmental problem that cannot be underestimated due to its tremendous impacts on various sectors including banking sector. Accordingly, the credit supply to private and public sectors is affected by the increased climate risk. In order to examine the climate risk effect from an international comparison, this paper empirically investigates the impact of climate risk on credit supply by using a sample of 174 countries during 2000–2019 from the perspective of the difference between private and public sectors. The results show that climate risk has a significant negative effect on the credit supply to private sector and a positive effect on that to the public sector. Further, we provide new evidence that the climate risk effect has a more significant effect on the private and public sector credit supply in the high-income countries than that in the low-income countries, suggesting a quick risk contagion in the high-income countries.

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