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

Author

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  • Apergis, Nicholas
  • Cooray, Arusha
  • Rehman, Mobeen Ur

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.

Suggested Citation

  • Apergis, Nicholas & Cooray, Arusha & Rehman, Mobeen Ur, 2023. "US partisan conflict uncertainty and households' access to bank credit: Evidence from UK survey data," Global Finance Journal, Elsevier, vol. 56(C).
    • Handle: RePEc:eee:glofin:v:56:y:2023:i:c:s1044028322000461
    DOI: 10.1016/j.gfj.2022.100744
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    More about this item

    Keywords

    US partisan conflict index; UK households' access to bank credit; Survey data;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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