To what extent was the credit contraction during the global financial crisis due to more intense screening and monitoring by banks? We address this question by analysing changes in the structure of a large number of syndicated loans to private, non-financial corporations. We find an increase in...

The global financial crisis has reignited the debate about the risks of financial globalisation, in particular the international transmission of financial shocks. We use data on individual loans by the largest international banks to their various countries of operations to examine whether...