Specialization in Bank Lending: Evidence from Exporting Firms

Daniel Paravisini, Veronica Rappoport and Philipp Schnabl

No 21800, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We develop an empirical approach for identifying specialization in bank lending using granular data on borrower activities. We illustrate the approach by characterizing bank specialization by export market, combining bank, loan, and export data for all firms in Peru. We find that all banks specialize in at least one export market, that firms take the pattern of bank specialization into account when selecting their lending banks, and that credit supply shocks disproportionately affect a firm’s exports to markets where the lender specializes in. Thus, bank specialization makes credit difficult to substitute, which has consequences for competition in credit markets and the transmission of credit shocks to the real economy.

JEL-codes: F14 G21 (search for similar items in EconPapers)
Date: 2015-12
New Economics Papers: this item is included in nep-ban and nep-int
Note: CF ITI
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Citations: View citations in EconPapers (46)

Published as DANIEL PARAVISINI & VERONICA RAPPOPORT & PHILIPP SCHNABL, 2023. "Specialization in Bank Lending: Evidence from Exporting Firms," The Journal of Finance, vol 78(4), pages 2049-2085.

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Related works:
Working Paper: Specialization in bank lending: evidence from exporting firms (2017)
Working Paper: Specialization in Bank Lending: Evidence from Exporting Firms (2017)
Working Paper: Specialization in bank lending: evidence from exporting firms (2017)
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