Bank Lending in the Knowledge Economy

Bank Lending in the Knowledge Economy
We study bank portfolio allocations during the transition of the real sector to a knowledge economy in which firms use less tangible capital and invest more in intangible assets. We show that, as firms shift toward intangible assets that have lower collateral values, banks reallocate their portfolios away from commercial loans... READ MORE...

Publication date: November 2017
ISBN 9781484324899
$18.00

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