Natural disasters and economic growth: The role of banking market structure
dc.contributor.author | Duqi, A | |
dc.contributor.author | McGowan, D | |
dc.contributor.author | Onali, E | |
dc.contributor.author | Torluccio, G | |
dc.date.accessioned | 2021-10-22T09:34:43Z | |
dc.date.issued | 2021-10-21 | |
dc.description.abstract | Following a natural disaster, the rate of economic growth recovers faster in less competitive banking markets. A 10% reduction in competition increases the rate of economic growth by 0.3%. In less competitive markets, banks respond to a disaster by increasing the supply of real estate credit by refinancing mortgage loans but do not lend more to businesses or consumers. Instead, government agencies provide disaster loans to affected businesses and households. Smaller, profitable and well-capitalized institutions that rely more on traditional retail banking originate most mortgage credit. | en_GB |
dc.identifier.citation | Vol. 71, article 102101 | en_GB |
dc.identifier.doi | 10.1016/j.jcorpfin.2021.102101 | |
dc.identifier.uri | http://hdl.handle.net/10871/127553 | |
dc.language.iso | en | en_GB |
dc.publisher | Elsevier | en_GB |
dc.rights | © 2021 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license | en_GB |
dc.subject | Disasters | en_GB |
dc.subject | Economic growth | en_GB |
dc.subject | Banks | en_GB |
dc.title | Natural disasters and economic growth: The role of banking market structure | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2021-10-22T09:34:43Z | |
dc.identifier.issn | 0929-1199 | |
exeter.article-number | 102101 | en_GB |
dc.description | This is the final version. Available on open access from Elsevier via the DOI in this record | en_GB |
dc.identifier.journal | Journal of Corporate Finance | en_GB |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | en_GB |
dcterms.dateAccepted | 2021-09-27 | |
rioxxterms.version | VoR | en_GB |
rioxxterms.licenseref.startdate | 2021-10-21 | |
rioxxterms.type | Journal Article/Review | en_GB |
refterms.dateFCD | 2021-10-22T09:30:35Z | |
refterms.versionFCD | AM | |
refterms.dateFOA | 2021-11-02T14:48:13Z | |
refterms.panel | C | en_GB |
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Except where otherwise noted, this item's licence is described as © 2021 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license