This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...

This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...

China, Brazil, and Turkey are important emerging countries and have different interest rate trends. China and Brazil enjoyed the lower interest rate of approximately 1.5% and 6.8% respectively whereas Turkey was faced with increasing interest rate problems reaching 23.35% as of 2018 end. The...