Financial hierarchy and banking strategies: a regional analysis for the Brazilian case

Nogueira, Mara; Crocco, Marco; Figueiredo, Ana Teresa; Diniz, Gustavo Figueiredo Campolina

doi:10.1093/cje/beu008

Cited by 13 publications

(11 citation statements)

References 28 publications

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“…(9) Uma contribuição nesse sentido é levantada por Nogueira et al (2014) em que verificaram que o caráter altamente concentrado do sistema bancário brasileiro produz uma tendência de concentração das agências bancárias na região mais desenvolvida. Os autores concluem que, embora esse padrão pudesse ser eficiente do ponto de vista dos bancos, não o é em relação ao desenvolvimento regional, aumentando suas disparidades econômicas frente às demais regiões mais desenvolvidas.…”

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Desigualdade na oferta de crédito regional a pessoas jurídicas: uma análise em painel para o período 2000-2011

Dutra

Bastos

Lamônica³

et al. 2015

Econ. soc.

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Resumo O objetivo deste artigo é apresentar um estudo empírico sobre o comportamento do crédito bancário para pessoa jurídica em termos regionais no período 2000-2011 utilizando-se um modelo de dados em painel. Com as estatísticas do banco de dados Estatísticas Bancárias por Municípios - Estban e doSistema Gerenciador de Séries Temporais do Banco Central do Brasil, foi possível construir as variáveis do modelo desenvolvido para explicar os determinantes do crédito às pessoas jurídicas por regiões. Apoiado na literatura pós-keynesiana, os resultados do modelo econométrico estimado comparando regiões apontam para a existência de um paradoxo financeiro da eficiência social, ou seja, observa-se este paradoxo quando instituições financeiras registram maior preferência pela liquidez indicando que o processo de geração de contratações de meios de produção e alocação de renda, que deveria ser iniciado pela disponibilidade de crédito, não é ratificado. Tal fato acaba por criar prerrogativas para inserção de políticas públicas para ocupar o hiato financeiro e promover a expansão econômica regional.

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Desigualdade na oferta de crédito regional a pessoas jurídicas: uma análise em painel para o período 2000-2011

Dutra

Bastos

Lamônica³

et al. 2015

Econ. soc.

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“…Over recent decades, financialization has permeated spatially constructed relationships more and more, especially in urban land settings (MORENO, 2014;ROLNIK, 2015). This paper argues that space and finance necessarily reinforce one another's dynamics.…”

Section: Financialization and Space Financializationmentioning

confidence: 99%

“…Space and finance are dialectically linked: financialization does not evolve in an empty space and neither does its development leave space unaltered. Moreover, the links between different spatial scales should also be considered: financialization unfolds both globally and locally (MORENO, 2014). Between the two, this paper also draws attention to the regional scale, whereby regions are regarded not as bounded entities, but as being "constituted from spatialized social relations" (HUDSON, 2007(HUDSON, , p. 1155).…”

Section: Financialization and Space Financializationmentioning

confidence: 99%

“…Although there is a higher concentration of assets in certain parts of the country, it has been argued that banks have differentiated spatial strategies regarding asset allocation. Such strategies are affected, for example, by the distinct degrees of centrality in cities where branches of different banks are located (NOGUEIRA et al, 2015). Therefore, generalizing this argument to the whole range of financial services under analysis, we must comprehend the pattern illustrated by the map as the result of multiple strategies of profit maximization.…”

Section: Regionmentioning

confidence: 99%

“…By examining the manner in which asset allocation by bank branches is influenced by distinct degrees of centrality, NOGUEIRA et al (2015) demonstrates that, in comparison with spaces of lower centrality, the Brazilian city of São Paulo suffered the highest impact regarding returns per asset after the 2008 crisis. This example may be used to illustrate an essential point being put forward.…”

Section: Hard Medium and Soft Spatial Financializationmentioning

confidence: 99%

See 2 more Smart Citations

Financialization and Space: Theoretical and Empirical Contributions | Financeirização e Espaço: Contribuições Teóricas e Empíricas

Cavalcante

Crocco

Santos

et al. 2018

RBEUR

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A b s t r a c t : Financialization has evolved as a macro concept arising from the increased significance of finance in all aspects of social and economic relations. The present paper attempts to raise awareness on the importance of understanding financialization from a spatial standpoint. Drawing from the interactions between finance and space, the main idea put forward in this paper is to incorporate a multilayered perspective of relational space as a direct determinant of the process of financialization. Once such a suggestion is accredited, an improved, more refined concept may better inform research and public debate on the effects of financialization, expressly those related to land use (and value) and to urban social exclusion. A preliminary analysis is conducted for a number of municipalities in Brazil.K e y w o r d s : Financialization, Regions, Financial System, Financial Services, Development. R e s u m o :

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Financing constraints of firms: Is there political favoritism in the economic resources given by the central government?

Liu,

Cifuentes‐Faura,

Gao

et al. 2024

Manage Decis Econ

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Economic resources within the jurisdiction of local governments in China shape the external financing environment of enterprises. However, few studies have focused on China's unique political hierarchy, which results in differentiated access to economic resources for different levels of local governments and substantially affects local corporate financing constraints. This paper examines the impact of city political hierarchy on firm financing constraints among Chinese A‐share listed firms from 2004 to 2019. We use the 200,000 population criterion for delineating the political hierarchy of cities in 1927 as the cutoff for fuzzy regression discontinuity design to identify causal effects. The results show that the greater a city's political rank is, the lower its financing constraints are. The mechanism suggests that the central government provides more financial and political resources to high‐level cities, directly and indirectly influencing the financing constraints of firms. In addition, high‐level cities' government preferences, bank loans, debt financing costs, and business credit are vital channels at the firm level. However, this effect varies depending on the ownership and size of the firm.

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Financial hierarchy and banking strategies: a regional analysis for the Brazilian case

Cited by 13 publications

References 28 publications

Desigualdade na oferta de crédito regional a pessoas jurídicas: uma análise em painel para o período 2000-2011

Desigualdade na oferta de crédito regional a pessoas jurídicas: uma análise em painel para o período 2000-2011

Financialization and Space: Theoretical and Empirical Contributions | Financeirização e Espaço: Contribuições Teóricas e Empíricas

Financing constraints of firms: Is there political favoritism in the economic resources given by the central government?

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