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Contribution Details

Type Scientific Publication In Electronic Form
Scope Discipline-based scholarship
Title "There is no planet B", but for banks there are "countries B to Z": Domestic climate policy and cross-border bank lending
Organization Unit
Authors
  • Emanuela Benincasa
  • Gazi Kabas
  • Steven Ongena
Language
  • English
Place of Publication London
Publisher VoxEU, CEPR Policy Portal
Date 2021
Abstract Text The stringency of climate policy varies from one country to the next. This column examines global syndicated loans to show that banks increase their cross-border lending in response to greater climate policy stringency in their home country, if the home country has more stringent climate policy than the borrowers' countries. Used in this way as a regulatory arbitrage tool, cross-border lending can reduce the effectiveness of climate policies if global coordination is not enforced.
Free access at Official URL
Official URL https://voxeu.org/article/domestic-climate-policy-and-cross-border-bank-lending
Other Identification Number merlin-id:21626
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