Format:
1 Online-Ressource (circa 48 Seiten)
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ISBN:
9781484358191
Series Statement:
IMF working paper WP/18, 158
Content:
Financial crises result in price and quantity rationing of otherwise creditworthy business borrowers, but little is known about the relative severity of these two types of rationing, which borrowers are rationed most, and the roles of foreign and domestic banks. Using a dataset from 50 countries containing over 18,000 business loans with information on the lender, the borrower, and contract terms, we find that publicly-listed borrowers are rationed more by prices or interest rates, whereas privately-held borrowers are rationed more by the number of loans. Also, the global financial crisis appears to have changed how banks price borrower risk. Further, there are important differences between foreign and domestic banks and between U.S. and non-U.S. loans
Additional Edition:
Erscheint auch als Druck-Ausgabe Berger, Allen Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks Washington, D.C. : International Monetary Fund, 2018 ISBN 9781484358191
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781484358191.001
URL:
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Author information:
Berger, Allen N.
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