US partisan conflict uncertainty and households' access to bank credit: Evidence from UK survey data

Apergis, Nicholas, Cooray, Arusha, and Rehman, Mobeen Ur (2022) US partisan conflict uncertainty and households' access to bank credit: Evidence from UK survey data. Global Finance Journal. (In Press)

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Abstract

This paper explores how US political uncertainty, stemming from partisan conflict, affects UK households' access to bank credit. Using data from a unique UK survey database and the US news- based Partisan Conflict Index developed by Azzimonti (2018), the findings document that US partisan policy uncertainty negatively affects UK households' access to loans and credit cards. Banks' increased caution on deal selection also appears to be an underlying channel through which partisan political uncertainty can affect lending activities. Further evidence suggests that this partisan uncertainty also increases loan interest rates.

Item ID: 75118
Item Type: Article (Research - C1)
ISSN: 1873-5665
Keywords: US partisan conflict index, UK households' access to bank credit, Survey data
Copyright Information: © 2022 Elsevier Inc. All rights reserved.
Date Deposited: 08 Aug 2022 23:44
FoR Codes: 38 ECONOMICS > 3801 Applied economics > 380113 Public economics - public choice @ 40%
38 ECONOMICS > 3801 Applied economics > 380107 Financial economics @ 60%
SEO Codes: 15 ECONOMIC FRAMEWORK > 1502 Macroeconomics > 150208 Monetary policy @ 50%
15 ECONOMIC FRAMEWORK > 1502 Macroeconomics > 150299 Macroeconomics not elsewhere classified @ 50%
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