Person:
Saadi, Vahid

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Vahid
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Saadi
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IE University
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IE Business School
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Finance
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    Publication
    The cleansing effect of banking crises
    (John Wiley and Sons Inc, 2022) Gropp, Reint; Ongena, Steven; Rocholl, Jörg; Saadi, Vahid; Horizon 2020 Framework Programme; Institute of Infection and Immunity; Bank of Canada; European Research Council; Goethe Universität Frankfurt am Main; Bocconi University; Ivey Business School; Western University; Göteborgs Universitet; Humboldt Universität zu Berlin; Freie Universität Berlin; https://ror.org/02jjdwm75
    We assess the cleansing effects of the 2008–2009 financial crisis. U.S. regions with higher levels of supervisory forbearance on distressed banks see less restructuring in the real sector: fewer establishments,firms,and jobs are lost when more distressed banks remain in business. In these regions,the banking sector has been less healthy for several years after the crisis. Regions with less forbearance experience higher productivity growth after the crisis with more firm entries,job creation,and employment,wages,patents,and output growth. Forbearance is greater for state-chartered banks and in regions with weaker banking competition and more independent banks. © 2022 Western Economic Association International.