ECO/FIN Seminar/ Webinar – Diana Bonfim

may, 2024

23may13:0014:00ECO/FIN Seminar/ Webinar - Diana Bonfim


Event Details

CEF.UP – ECO/FIN Seminar/Webinar

Thursday – May 23rd, 2024 at 1:00 p.m. | Room 305| Online


Bank Specialization in Lending to New Firms

Diana Bonfim– Banco de Portugal and European Central Bank



“We formulate a novel dimension of bank-lending specialization—specialization in lending to new firms—and investigate its impact on the creation, credit access, and survival of new businesses. We exploit a Portuguese reform that drastically reduced the red tape of starting a new firm and that was rolled out in a staggered manner across municipalities. We show that while reducing regulatory barriers stimulates business creation, this effect depends crucially on the pre-reform local presence of bank branches specialized in lending to new firms. A greater presence of such branches is associated with improved credit access and higher leverage of new local businesses. Moreover, new firms that obtain loans from specialized branches exhibit an up to 12 percent higher survival rate.”






(Thursday) 13:00 - 14:00

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