We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms …

-owned small businesses face constraints in the credit market beyond those faced by white-owned small businesses. First, we present … businesses except that blacks are far more likely to report problems with credit availability. Second, we conduct an econometric … have a loan application denied. Even after controlling for the differences in credit-worthiness and other factors that …

Post-crisis stress tests have altered banks' credit supply to small business. Banks affected by stress tests reduce … credit supply and raise interest rates on small business loans. Banks price the implied increase in capital requirements from … concentrated among risky borrowers. Stress tests do not, however, reduce aggregate credit. Small banks increase their share in …

information networks and so extend credit to firms that were too young or small to secure funds from large regional or national …

banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U …. Despite this offsetting expansion, the net effect of the contraction in credit was negative, with lower aggregate credit and …