In this article the author provides a critical review of the theoretical and empirical literature on the factors that cause the reduction in corporate loans. The analysis focuses in particular on the studies that have analyzed the disruption of credit markets and finance have occurred in the...

Even as in the debate over the current financial crisis there is a general agreement on the role played by foreign capital inflows into the United States –that, together with financial deregulation, allowed for an excessive increase of credit in that country–, we think that their importance...

In this study we analyse the evolution of BET Bucharest Stock Exchange through an AR-GARCH model and we estimate the likelihood of extreme events using stable distributions. Using the time series of the Bucharest Stock Exchange main index BET we argue that stable distributions can significantly...

The easy access to financing of enterprises in general and of small and medium enterprises (SMEs) in particular is of crucial importance, for it conditions their creation, survival and develop- ment, and, eventually, economic growth and the creation of workplaces. In comparison with large...

Recent devastating global financial crisis started from United States, spread all over the world and adversely affected real and financial sectors of developed as well as developing countries. This crisis is called the first largest crisis after the recession of 1930s. The prime aim of this...

The co-existence of the ‘twin’ banking and currency crises in emerging market economies has raised concerns regarding the underlying causes and potential remedies. Literatures suggest that there are at least three major approaches that could be used to explain the phenomenon: the...

Purpose–This paper aims to study the formation and amplification mechanism of the financial crisis and business cycle and also discuss the related optimal rules for the central bank and government. Design/methodology/approach–This study is developed basically on a simple financial business...

Using a large database built from the credit files of UniCredit we focus on loans to small businesses at the peak of the crisis. We study the determinants of the worsening of financial tension up to March 2009 for those customers experiencing (or close to) financial tension already at the end of...

Australian banks are widely considered to have fared far better during the Global Financial Crisis than their global counterparts, continuing to display solid earnings, good capitalization and strong credit ratings. Nonetheless, Australian banks experienced significant deterioration in the...

Concerns have been raised that the "new normal" — a period of high unemployment, low returns on investment, high risks, and low growth — may become protracted in advanced economies. The world, therefore, needs a growth-lifting strategy. This strategy could take the form of a global...