Das Wachstum multinationaler Unternehmen (MNU) wird zunehmend durch Investitionen von Dienstleistungsunternehmen vorangetrieben. Die Produktion von Dienstleistungen unterscheidet sich allerdings in mehreren Aspekten von der Herstellung klassischer Industriegüter. Eine zentrale Eigenschaft ist...

Ziel der vorliegenden Arbeit ist die ökonomische Analyse der Regelungen zur Kreditvergabe an Unternehmen der Neuen Basler Eigenkapitalvereinbarung in der Version vom Januar 2001 („Basel II”). Der grundlegende Unterschied zwischen diesem Regulierungsentwurf und der momentan gültigen...

Romer (2000) provides an alternative model to the AS/AD and IS/LM models that abandons the LM schedule by having the short-term interest rate set by the central bank. His framework acknowledges the critical role of the central bank in determining short-term interest rates, which moves mainstream...

Building on the important study by Beck, Demirguc-Kunt, and Levine [2006. Bank supervision and corruption in lending. Journal of Monetary Economics 53, 2131-2163], we examine the effects of both borrower and lender competition as well as information sharing via credit bureaus/registries on...

The paper provides empirical analysis on the linkage betweenthe behavior of bank lending and business cycles in South Africa. Consistentwith theory, overall evidence suggesting pro-cyclicality of bank lending isuncovered both at macro and micro levels. At macro level, bank lending andlending...

Artículo de revista ; As in other countries, the effect of the pandemic and the global recession on the Turkish economy was mitigated by the fiscal, financial and monetary support implemented by the country’s authorities. In fact, Turkey was one of the few economies of significant size to...

Since bank credit lines are a major source of corporate funding, we examine the determinants of credit line usage with a comprehensive database of Spanish corporate credit lines. A line’s default status is a key factor driving its usage, which increases as a firm’s financial condition...

Using information of the balance sheets of Spanish banks between 1995 and 2009, we estimate the average impact of current and anticipated changes in banks’ capital on fi rm lending. We isolate the role of credit supply factors using the variation in capital growth associated to the...

This paper examines whether financial constraints affect firms’ investment decisions for older (larger) firms. We compare a group of unbanked firms to firms that rely on formal financing. Specifically, we combine data from the Spanish Mercantile Registry and the Bank of Spain Credit Registry...

Este trabajo ha recibido el primer Premio Federico Prades para jóvenes economistas de la Fundación AEB (Asociación Española de Banca) ; La introducción del factor de soporte del crédito a las pequeñas y medianas empresas (pymes) —conocido como SME SF, por sus siglas en inglés—...