| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13691 |
| DP13691 Small Firms and Domestic Bank Dependence in Europe's Great Recession | |
| Mathias Hoffmann; Egor Maslov; Bent E Sørensen | |
| 发表日期 | 2019-04-23 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | After the inception of the euro, the real economy in most member countries remained dependent on credit by domestic banks, which increasingly funded themselves through cross-border interbank funding. We find that this pattern of `double-decker' banking integration exposed domestic banks to sharp declines in cross-border interbank lending during the eurozone crisis. As a result, domestic banks reduced lending which led to large declines in output in sectors with many small (bank-dependent) firms. We propose a quantitative small open economy model to account for these patterns and conclude that a global banking shock leading to a sudden stop in cross-border interbank lending in the eurozone is required to account for them. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Small and medium enterprises Sme access to finance Banking integration Domestic bank dependence Interbank dependence International transmission Eurozone crisis |
| URL | https://cepr.org/publications/dp13691-1 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542551 |
| 推荐引用方式 GB/T 7714 | Mathias Hoffmann,Egor Maslov,Bent E Sørensen. DP13691 Small Firms and Domestic Bank Dependence in Europe's Great Recession. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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