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Essays in Banking and Corporate Finance.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in Banking and Corporate Finance./
Author:	Passalacqua, Andrea.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2020,
Description:	204 p.
Notes:	Source: Dissertations Abstracts International, Volume: 82-11, Section: A.
Contained By:	Dissertations Abstracts International82-11A.
Subject:	Politics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=28452551
ISBN:	9798597059365

Essays in Banking and Corporate Finance.
Passalacqua, Andrea.

Essays in Banking and Corporate Finance. - Ann Arbor : ProQuest Dissertations & Theses, 2020 - 204 p.

Source: Dissertations Abstracts International, Volume: 82-11, Section: A.

Thesis (Ph.D.)--Harvard University, 2020.

This item must not be sold to any third party vendors.

This dissertation studies the role of different types of frictions in preventing optimal resource allocation in the economy. In chapter 1, I focus on financial frictions and consider the distorted incentives of banks to lend to zombie firms. I show that bank supervision, in the form of on-site unexpected inspections, can reduce the misallocation of resources in the credit market with positive spillovers for the local economy. In chapter 2, I study the role of political frictions in explaining the divergence of the income-GDP ratio from the optimal level suggested by the optimal taxation literature. I review the literature on the topic and suggest that among other factors, political budget cycles play an important role. In chapter 3, I combine the two topics from before, by considering the role of political frictions in the context of zombie lending and show that electoral cycles can explain the persistence of this lending behavior by financial intermediaries.

ISBN: 9798597059365Subjects--Topical Terms:

685427
Politics.
Subjects--Index Terms:

Bank supervision

Essays in Banking and Corporate Finance.
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245 1 0 $a Essays in Banking and Corporate Finance.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 2020
300 $a 204 p.
500 $a Source: Dissertations Abstracts International, Volume: 82-11, Section: A.
500 $a Advisor: Stein, Jeremy C.;Lerner, Josh;Scharfstein, David S.;Sunderam, Adi;Di Maggio, Marco.
502 $a Thesis (Ph.D.)--Harvard University, 2020.
506 $a This item must not be sold to any third party vendors.
520 $a This dissertation studies the role of different types of frictions in preventing optimal resource allocation in the economy. In chapter 1, I focus on financial frictions and consider the distorted incentives of banks to lend to zombie firms. I show that bank supervision, in the form of on-site unexpected inspections, can reduce the misallocation of resources in the credit market with positive spillovers for the local economy. In chapter 2, I study the role of political frictions in explaining the divergence of the income-GDP ratio from the optimal level suggested by the optimal taxation literature. I review the literature on the topic and suggest that among other factors, political budget cycles play an important role. In chapter 3, I combine the two topics from before, by considering the role of political frictions in the context of zombie lending and show that electoral cycles can explain the persistence of this lending behavior by financial intermediaries.
590 $a School code: 0084.
650 4 $a Politics. $3 685427
650 4 $a Inspections. $3 3682689
650 4 $a Elections. $3 723102
650 4 $a Finance. $3 542899
653 $a Bank supervision
653 $a Zombie lending
653 $a Electoral cycle
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690 $a 0501
710 2 $a Harvard University. $b Political Economy and Government. $3 3171761
773 0 $t Dissertations Abstracts International $g 82-11A.
790 $a 0084
791 $a Ph.D.
792 $a 2020
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=28452551