This study examines how state ownership of banks can have contributed to the ascending to power of Vladimir Putin during the presidential elections of March 2000. We analyze how firm loans granted by the dominating state-owned bank Sberbank can have influenced the outcome of these elections. We study the relation at the regional level and analyze the variation in Sberbank firm loans and the inc...

It is typically less profitable for an opportunistic borrower to divert inputs than to divert cash. Therefore, suppliers may lend more liberally than banks. This simple argument is at the core of our contract theoretic model of trade credit in competitive markets. The model implies that trade credit and bank credit can be either complements or substitutes depending on, amongst other things, the...

Objective: The variables of customer concentration and bank loan contracts can affect corporate finance activities, and customer concentration may increase corporate returns. Methods: Under this study, the relationship between customer concentration and bank loan contracts have been investigated first and then the moderating effect of financial status variables and accounts payable on relation...

Using a unique Norwegian dataset, which combines information on companies’ bank accounts, annual accounts and bank mergers and acquisitions (M&As), we find evidence that such M&As reduce credit availability and worsen borrowing terms for nontransparent firms. Since, due to information asymmetries, such firms are typically more dependent on bank lending relationships, our results indicate that t...

over time depends on the functioning of the financial system. Within this market, banks play a fundamental role as financial intermediaries, providing access to the payment system, transforming assets, managing risk, and monitoring and processing information (Freixas and Rochet, 1998). In this paper we empirically study the role of banks in overcoming the frictions that arise from asymmetric in...

The Russian Default of 1998 provides a natural experiment to test how global …nancial linkages transmit negative credit supply shocks to emerging markets. Using bank-level data from Peru, I show that the shock a¤ects bank lending by both foreign and domestic banks because all banks re…nance their lending abroad. Using microdata on all corporate loans, I show that foreign banks reduce lending le...

• The World Bank is the largest funder of global health within the UN system and the second largest funder overall • We identify five major periods in the bank’s role in global health in terms of lending, cooperation, and knowledge • Despite the entrance of major new global health organisations the bank has remained relevant through innovative financing mechanisms, close long term relations wit...

In this thesis we examine the cofinancing of World Bank projects with commercial banks in the context of the current international debt crisis. After describing the institutions involved, with particular emphasis on the World Bank, we review the history of cofinancing with commercial banks. We then describe the controversy that has existed between the World Bank and commercial banks and present...