The paper relies on a firm-level data on transition economies to examine the relationship between informality and bank … credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank … credit. We also find that higher tax compliance costs reduce firms' reliance on bank credit, while a stronger quality of the …

concentrated in five banks?Goldman Sachs, JPMorgan, Bank of America, Morgan Stanley and Citi. This note analyzes how such risks …

We construct a country-level indicator capturing the extent to which aggregate bank credit growth originates from banks … with a relatively riskier profile, which we label the Riskiness of Credit Origins (RCO). Using bank-level data from 42 … robustly predicts downside risks to GDP growth even after controlling for aggregate bank credit growth and financial conditions …

survey includes models of contagion between banks, models of contagion within the wider financial system including non-bank … modelling frontier faces three main challenges: (a) our understanding of the potential for amplification in sectors of the non-bank … financial system during periods of stress, (b) multi-sectoral models of the non-bank financial system to analyse the behaviour …