The authors examine the impact of bank supervision on the financing obstacles faced by almost 5,000 corporations across 49 countries. They find that firms in countries with strong official supervisory agencies that directly monitor banks tend to face greater financing obstacles. Moreover, powerful official supervision tends to increase firm reliance on special connections and corruption in raising external finance, which is consistent with political...
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INFORMATION
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2003/05/31
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Document de travail de recherche sur les politiques
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WPS3042
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1
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1
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2010/07/01
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Bank supervision and corporate finance
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financing obstacle
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