The Real Effects of Government-Owned Banks: Evidence from an Emerging Market

Using plant-level data for Brazilian manufacturing firms, this paper provides evidence that government control over banks leads to significant political influence over the real decisions of firms. I find that firms eligible for government bank lending expand employment in politically attractive regi...

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Bibliographic Details
Published in:	The Journal of finance (New York) 2014-04, Vol.69 (2), p.577-609
Main Author:	CARVALHO, DANIEL
Format:	Article
Language:	English
Subjects:	1995-2006 Bank credit Bank loans Banking Banks Brasilien Brazil Companies Competitiveness Elections Emerging markets Employment Financial investments Government Incumbents Industrie Kreditgeschäft Loans Manufacturing Political behavior Political economy Political elections Political influence Political power Politicians Public enterprise Reelection Regions Studies Unternehmensfinanzierung Öffentliche Bank
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