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Interbank liquidity crunch and the firm vredit crunch : evidence from the 2007-2009 crisis
We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction is stronger for firms that are smaller, with weaker banking relationships. Small firms cannot compensate the credit crunch with other sources of debt. Furthermore, the impact of illiquidity on the credit crunch is stronger for less solvent banks. Finally, we find no overall positive effects of central bank liquidity but instead higher hoarding of liquidity. .Printed Journal, baca ditempat
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| TRFS2701 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | : The Society of Financial Studies |
|---|---|
| Edisi | - |
| Subjek | Banks Mortgages Financial crises Other depository institutions Micro finance institutions Financing policy Financial risk and risk management Capital and ownership structure Government policy and regulation |
| ISBN/ISSN | 8939454 |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |