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  • 标题:Running for the Exit: International Banks and Crisis Transmission
  • 本地全文:下载
  • 作者:Ralph de Haas ; Neeltje van Horen
  • 期刊名称:DNB Working Papers / De Nederlandsche Bank
  • 出版年度:2011
  • 卷号:1
  • 出版社:De Nederlandsche Bank
  • 摘要:2011 Ralph de Haas and Neeltje van Horen The global financial crisis has reignited the debate about the risks of financial globalization, in particular the international transmission of financial shocks. We use data on individual loans by the largest international banks to their various countries of operation to examine whether banks’ access to borrower information affected the transmission of the financial shock across borders. The simultaneous use of country and bank fixed effects allows us to disentangle credit supply and demand and to control for general bank characteristics. We find that during the crisis banks continued to lend more to countries that are geographically close, where they are integrated into a network of domestic co-lenders, and where they had gained experience by building relationships with (repeat) borrowers
  • 关键词:Crisis transmission, sudden stop, cross-border lending, syndicated loans. JEL codes:
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