What is the response of bank foreign subsidiaries to climate policy in their host countries? This paper finds that global banks with high environmental performance increase their presence in countries after local authorities strengthen their climate-related actions. Through their foreign subsidiaries, these banks expand their credit by 4.6 percent following an increase of one-standard deviation in the host country’s climate policy index. Importantly...
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INFORMATION
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2022/12/15
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Document de travail de recherche sur les politiques
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WPS10266
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1
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2022/12/15
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Disclosed
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Global Bank Lending under Climate Policy
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