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 homecountry climate policies incre...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 homecountry 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.展开更多
文摘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 homecountry 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.
