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| Type | Scientific Publication In Electronic Form |
| Scope | Discipline-based scholarship |
| Title | Banking on knowledge: Technology expertise and loan costs |
| Organization Unit | |
| Authors |
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| Refereed | No |
| Language |
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| Place of Publication | London |
| Publisher | VoxEU, CEPR Policy Portal |
| Date | 2023-12-01 |
| Abstract Text | High-tech innovative firms often face difficulties in obtaining bank loans due to technological uncertainties and information asymmetries. This is because banks traditionally specialise in specific industry domains to mitigate risks. This column uses comprehensive patent data and syndicated bank loan data to show that banks also acquire technological expertise that extends beyond industry lines. This expertise is robustly related to lower loan spreads, and benefits both banks and future borrowers. Fostering collaboration between banks and innovative firms can boost productivity and can ultimately benefit both the economy and society. |
| Free access at | Official URL |
| Official URL | https://cepr.org/voxeu/columns/banking-knowledge-technology-expertise-and-loan-costs |
| Other Identification Number | merlin-id:24305 |
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| Keywords | Bank lending, High-technology industries, Knowledge |