气候变化领域集成服务门户(CCPortal): Climate-change regulations: Bank lending and real effects

CCPortal

DOI	10.1016/j.jfs.2023.101212
	Climate-change regulations: Bank lending and real effects
	Miguel, Faruk; Pedraza, Alvaro; Ruiz-Ortega, Claudia
发表日期	2024
ISSN	1572-3089
EISSN	1878-0962
起始页码	70
卷号	70
英文摘要	We analyze how capital requirements from environmental risk exposure affect bank lending to the corporate sector, and how these effects transmit to real economic activity and to greenhouse gas emissions. To do so, we exploit the introduction of a policy in Brazil that required banks to incorporate environmental risks in their capital assessments. Using comprehensive credit data, we find that the policy induces large banks to reallocate their lending away from exposed sectors. The credit contraction has no substantial impact on the real activity and greenhouse gas emissions of these sectors, as smaller banks expand their lending afterwards. However, the policy triggers a moderate labor reallocation from small firms (i.e., those with higher costs of switching lenders) and into large firms within environmentally exposed sectors.
英文关键词	Capital requirements; Climate change; Bank lending; Real effects
语种	英语
WOS研究方向	Business & Economics
WOS类目	Business, Finance ; Economics
WOS记录号	WOS:001164165200001
来源期刊	JOURNAL OF FINANCIAL STABILITY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/309366
作者单位	The World Bank
推荐引用方式 GB/T 7714	Miguel, Faruk,Pedraza, Alvaro,Ruiz-Ortega, Claudia. Climate-change regulations: Bank lending and real effects[J],2024,70.
APA	Miguel, Faruk,Pedraza, Alvaro,&Ruiz-Ortega, Claudia.(2024).Climate-change regulations: Bank lending and real effects.JOURNAL OF FINANCIAL STABILITY,70.
MLA	Miguel, Faruk,et al."Climate-change regulations: Bank lending and real effects".JOURNAL OF FINANCIAL STABILITY 70(2024).