Urbanization and firm access to credit
利用意大利银行-企业数据，研究发现城市化程度越高，建筑企业越容易获得银行信贷，因为其抵押品受益于更活跃的房地产市场，但对服务业和制造业企业无显著影响。
Abstract The paper investigates whether firms have better access to bank credit in territories characterized by a larger degree of urbanization. It uses Italian bank‐firm data drawn from the Credit Register to devise an indicator of easiness of access to credit. The paper proposes an instrumental variable strategy that exploits as instruments past population density and urbanization driven by political economy considerations. The results show that urbanization positively affects access to credit for construction firms, whose collateral greatly benefits from thicker real estate markets. No impact is found for service and manufacturing firms.