credit market and in funding markets. The reduction in the supply of credit by Eurozone banks caused riskier borrowers to …. Although global bank lending is often reported to amplify the international credit cycle, we show that foreign banking acted as … a shock absorber that weathered the real consequences of the credit crunch in Europe …

banks during the 1990s on credit allocation using the Short-term Economic Survey of Enterprises. This survey includes a … from our model. We found that credit was reduced when the balance sheet of firms and banks deteriorated. The effects are … particularly significant for non-manufacturing industries. -- Tankan Survey ; Credit crunch ; Ever-greening ; Non-performing loans …