Series: IMF Working Papers
Author(s): Giovanni Dell'Ariccia , Dalida Kadyrzhanova , Camelia Minoiu , and Lev Ratnovski
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 07 November 2017
Keywords: Intangible capital, bank lending, commercial loans, real estate loans, liquid assets, Financial Markets and the Macroeconomy, Government Policy and Regulation
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...