Haas, Ralph De; Horen, Neeltje Van - In: American Economic Review 102 (2012) 3, pp. 231-37
After Lehman Brothers filed for bankruptcy in September 2008, cross-border bank lending contracted sharply. To explain the severity and variation in this contraction, we analyze detailed data on cross-border syndicated lending by 75 banks to 59 countries. We find that banks which had to write...