NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Specialization in Bank Lending: Evidence from Exporting Firms

Daniel Paravisini, Veronica Rappoport, Philipp Schnabl

NBER Working Paper No. 21800
Issued in December 2015, Revised in August 2017
NBER Program(s):   CF   ITI

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 specialization affects a firm’s choice of new lenders and how to finance exports, and that credit supply shocks disproportionately affect a firm’s exports to markets where the lender specializes in. Thus, bank market-specific specialization makes credit difficult to substitute, with consequences for competition in credit markets and the transmission of credit shocks to the economy.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.

Access to NBER Papers

You are eligible for a free download if you are a subscriber, a corporate associate of the NBER, a journalist, an employee of the U.S. federal government with a ".GOV" domain name, or a resident of nearly any developing country or transition economy.

If you usually get free papers at work/university but do not at home, you can either connect to your work VPN or proxy (if any) or elect to have a link to the paper emailed to your work email address below. The email address must be connected to a subscribing college, university, or other subscribing institution. Gmail and other free email addresses will not have access.

E-mail:

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w21800

Users who downloaded this paper also downloaded* these:
Yermack w21802 Corporate Governance and Blockchains
Lerner, Schoar, Sokolinski, and Wilson w21808 The Globalization of Angel Investments: Evidence across Countries
Frydman and Papanikolaou w21795 In Search of Ideas: Technological Innovation and Executive Pay Inequality
Devereux, Young, and Yu w21791 A New Dilemma: Capital Controls and Monetary Policy in Sudden Stop Economies
Glaeser, Ponzetto, and Zou w21794 Urban Networks: Connecting Markets, People, and Ideas
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us