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Contribution Details
| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Capital Inflows, Credit Growth and Skill (Mis)allocation |
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| Institution | University of Zurich |
| Series Name | ECB Working Paper |
| Number | 2271 |
| Date | 2019 |
| Abstract Text | In emerging markets and Southern Europe, large capital inflows have led to a decrease in the allocative efficiency of capital. Do capital inflows also affect the allocation of workers and skills? To address this question, we exploit exogenous variations in Portuguese banks' ability to channel capital inflows over the 2002-2007 period. Using comprehensive bank-firm-employee data, we show that not only leverage, but also employment and skill-intensity increase in firms exposed to bank-channeled capital inflows. |
| Official URL | https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2981127## |
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