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Article: Shadow Banking in a Crisis: Evidence from Fintech during COVID-19

TitleShadow Banking in a Crisis: Evidence from Fintech during COVID-19
Authors
Issue Date2021
Citation
Journal of Financial and Quantitative Analysis, 2021, v. 56, n. 7, p. 2320-2355 How to Cite?
AbstractWe analyze lending by traditional as well as fintech lenders during COVID-19. Comparing samples of fintech and bank loan records across the outbreak, we find that fintech companies are more likely to expand credit access to new and financially constrained borrowers after the start of the pandemic. However, this increased credit provision may not be sustainable; the delinquency rate of fintech loans triples after the outbreak, but there is no significant change in the delinquency of bank loans. Borrowers holding both loan types prioritize the payment of bank loans. These results shed light on the benefits provided by shadow banking in a crisis and hint at the potential fragility of such institutions when delinquency rates spike.
Persistent Identifierhttp://hdl.handle.net/10722/322057
ISSN
2021 Impact Factor: 4.337
2020 SCImago Journal Rankings: 4.657

 

DC FieldValueLanguage
dc.contributor.authorBao, Zhengyang-
dc.contributor.authorHuang, Difang-
dc.date.accessioned2022-11-03T02:23:18Z-
dc.date.available2022-11-03T02:23:18Z-
dc.date.issued2021-
dc.identifier.citationJournal of Financial and Quantitative Analysis, 2021, v. 56, n. 7, p. 2320-2355-
dc.identifier.issn0022-1090-
dc.identifier.urihttp://hdl.handle.net/10722/322057-
dc.description.abstractWe analyze lending by traditional as well as fintech lenders during COVID-19. Comparing samples of fintech and bank loan records across the outbreak, we find that fintech companies are more likely to expand credit access to new and financially constrained borrowers after the start of the pandemic. However, this increased credit provision may not be sustainable; the delinquency rate of fintech loans triples after the outbreak, but there is no significant change in the delinquency of bank loans. Borrowers holding both loan types prioritize the payment of bank loans. These results shed light on the benefits provided by shadow banking in a crisis and hint at the potential fragility of such institutions when delinquency rates spike.-
dc.languageeng-
dc.relation.ispartofJournal of Financial and Quantitative Analysis-
dc.titleShadow Banking in a Crisis: Evidence from Fintech during COVID-19-
dc.typeArticle-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1017/S0022109021000430-
dc.identifier.scopuseid_2-s2.0-85110570393-
dc.identifier.volume56-
dc.identifier.issue7-
dc.identifier.spage2320-
dc.identifier.epage2355-
dc.identifier.eissn1756-6916-

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