We study borrowers’ preferences over bank and family loans based on field work undertaken in rural Rwanda. We randomly assigned willingness-to-pay questions for a hypothetical loan offer either by a bank or by a family member to a sample of 480 households. Informal family loans are typically...

This paper studies the bank-level (size and access to funds) and market-based (interest rate, inflation rate, GDP) variables’ impact on bank lending behavior in Turkey using quarterly bank level data of 15 private commercial banks and 3 state-owned banks for the 2003-2012 period. The empirical...

Small and medium enterprises (SMEs) represent a large percentage of the corporate tissue of developed countries, but they do not have adequate attention. In fact, various researchers have focused their studies on larger and well-known companies. This paper aims to investigate the impact of...

The extraordinary steps taken by governments during the 2007-2009 financial crisis to prevent the failure of large financial institutions and support credit availability have invited heated debate. This paper comprehensively reviews empirical assessments of the benefits of those programs-such as...

We find a positive relation between the amount of pension deficits and the cost of bank loans. The effect of pension deficits on the costs of bank loans is driven by financial constraints, information asymmetry problems, and higher pension investment risk. Banks tighten lending terms for firms...