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Book Cover
Author Beck, Thorsten

Title Who Gets the Credit? and Does It Matter? [electronic resource] : Household Vs. Firm Lending Across Countries / Beck, Thorsten

Published Washington, D.C., The World Bank, 2008


Location Call No. Status
Physical description 1 online resource (41 p.)
Series Policy research working papers.
World Bank e-Library.
Summary While the theoretical and empirical finance literature has focused almost exclusively on enterprise credit, about half of credit extended by banks to the private sector in a sample of 45 developing and developed countries is to households. The share of household credit in total credit increases as countries grow richer and financial systems develop. Cross-country regressions, however, suggest a positive and significant impact on gross domestic product per capita growth only of enterprise but not household credit. These two findings together partly explain why previous studies have found a small or insignificant effect of finance on growth in high-income countries. In addition, countries with a lower share of manufacturing, a higher degree of urbanization, and more market-oriented financial systems have a higher share of household credit. It is thus mostly socio-economic trends that determine credit composition, while policies influencing banking market structure and regulatory policies are not robustly related to credit composition.
Other author Beck, Thorsten
Buyukkarabacak, Berrak
Rioja, Felix
Valev, Neven
Standard Number 10.1596/1813-9450-4661