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Title:German bank lending during emerging market crises: A bank level analysis PDF Logo
Authors:Heid, Frank
Nestmann, Thorsten
di Mauro, Beatrice Weder
von Westernhagen, Natalja
Issue Date:2004
Series/Report no.:Discussion Paper, Series 2: Banking and Financial Supervision 2004,04
Abstract:This paper studies German bank lending during the Asian and Russian crises, using a bank level data set, which has been compiled from credit data at the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the Asian crisis mainly by reallocating their portfolios among emerging markets. This behaviour is consistent with active portfolio management and does not necessarily indicate a spontaneous reaction to the Asian crisis. By contrast, the banks' behaviour during the Russian crisis is characterised by a general withdrawal from emerging markets. The use of micro data allows us to analyse and to model bank heterogeneity with panel estimation techniques. We find that the lending of large commercial banks was less stable than the lending of public sector banks during the Asian crisis. Differences were not as pronounced during the Russian crisis.
Subjects:banking
currency crises
emerging markets crises
contagion
financial stability
bank lending
JEL:F34
F32
F30
Document Type:Working Paper
Appears in Collections:Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank

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