The Schumpeterian role of banks: Credit reallocation and capital structure
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DOI: 10.1016/j.euroecorev.2019.103349
Abstract: Capital reallocation across firms is a key source of productivity gains. This paper studies the ‘Schumpeterian role’ of banks: They liquidate loans to firms with poor prospects and reallocate the proceeds to more successful, expanding… read more here.
Keywords: credit; capital; schumpeterian role; reallocation ... See more keywords