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1 décembre 2021
- ISIDORE Id: 10670/1.5e342a...
- hal: hal-03462407
http://creativecommons.org/licenses/by-nc-nd/ , info:eu-repo/semantics/OpenAccess
Mots-clés
Elections Access to credit Credit constraints D - Microeconomics/D.D7 - Analysis of Collective Decision-Making/D.D7.D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior G - Financial Economics/G.G2 - Financial Institutions and Services/G.G2.G21 - Banks • Depository Institutions • Micro Finance Institutions • Mortgages O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and GovernanceSujets proches
Electoral politics Franchise PollsCiter ce document
Florian Léon et al., « Elections Hinder Firms' Access to Credit », HAL SHS (Sciences de l’Homme et de la Société), ID : 10670/1.5e342a...
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Résumé
We investigate whether the occurrence of elections affect access to credit for firms. We perform an investigation using firm-level data covering 44 developed and developing countries. We find that elections have a detrimental influence on access to credit: firms are more credit-constrained in election years but also in pre-election years. We explain this finding by the fact that elections exacerbate political uncertainty. The negative effect of elections takes place through lower credit demand, whereas the occurrence of elections does not affect credit supply. We further establish that the design of political and financial systems affects how elections influence access to credit.
