Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/112857 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2015: Ökonomische Entwicklung - Theorie und Politik - Session: Firms, credit and the cycle No. D03-V1
Verlag: 
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Zusammenfassung: 
In this paper, we investigate how the withdrawal of banks from their cross-border business has impacted on firms' borrowing costs since the recent crisis. We combine aggregate information on total and cross-border credit with firm-level data from the Survey on the Access to Finance of SMEs in the euro area. We find that the decline in cross-border lending has led to a deterioration in the borrowing conditions of SMEs. First, in countries with more pronounced reductions in cross-border credit inflows to firms and banks, the likelihood of a rise in firm's external financing costs has significantly increased. Second, both actual and perceived financing constraints of SMEs have become more likely. This result is mainly driven by the interbank channel, which has played a crucial role in transmitting shocks to the real sector across borders.
JEL: 
F34
G15
G21
Dokumentart: 
Conference Paper

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