Finanzsystems zu sichern. -- Financial structure ; financial integration ; credit growth ; financial crisis …

-Saxon countries -have been discussing the credit channel approach, which embraces the credit suppIy as well as the interest rate … heavily reliant on bank credit. The credit channel theory states that, for small enterprises, a stricter monetary policy … stance results in a higher cost of borrowed funds than for larger enterprises or even in credit rationing. The result is that …