Deposit-Lending Synergies: Evidence from Chinese Students at U.S. Universities
利用2000至2018年中国学生涌入美国大学这一外生冲击，研究发现银行吸收中国学生存款后增加了当地信贷供给，尤其是信息敏感型贷款，表明存款能传递本地信贷市场的私有信息。
Abstract This paper exploits an influx of Chinese students to U.S. universities from 2000 through 2018 to study synergies between banks’ deposit-taking and lending activities. Banks that are more recognizable by Chinese students experience higher deposit inflows and increase their local credit supply. This credit supply expansion only occurs in information-sensitive credit markets: small business loans and second lien mortgages. Such increase concentrates in nontradable sectors and is more pronounced at locations where managers have more autonomy. The results indicate that deposits from local consumers convey private information about the local credit market, which helps banks in information-sensitive lending.