The dark side of bank taxes

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NETL
NSTL
Elsevier

外文摘要：We investigate the impact of a new bank tax in Poland on bank lending behavior. We find that banks respond to the tax by tightening credit supply and increasing the costs of credit to the real sector. However, the responses vary across loan segments. In line with search-for-yield behavior, the tax motivates banks to shift their allocations of household credit from low-margin and relatively safe mortgage loans to higher-margin and riskier consumer loans. We find no evidence that financially weak banks are more incentivized to shift to riskier loan types. Moreover, firms that receive loans from banks more exposed to the tax experience a greater credit contraction.

外文关键词：

Bank taxCredit marginCredit growthRisk shiftingSearch-for-yield

作者：

Marcin Borsuk、Oskar Kowalewski、Jianping Qi

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作者单位：

Institute of Economics, Polish Academy of Sciences, Poland, University of Cape Town, South Africa

Institute of Economics, Polish Academy of Sciences, Poland, University of Cape Town, South Africa,Univ. Lille, UMR 9221 - LEM - Lille Economie Management, France,CNRS, UMR 9221 - LEM - Lille Economie Management, France

Muma College of Business, University of South Florida, USA

出版年：

2023

DOI：

10.1016/j.jbankfin.2023.107041

Journal of banking & finance

ISSN：0378-4266

年,卷(期)：2023.157(Dec.)

参考文献量71