Dell'Ariccia, Giovanni; Marquez, Robert - International Monetary Fund (IMF) - 2001
Superior information exchanged over the course of lending relationships generates bank-client specificities to the …. Negative shocks, associated with monetary contractions or foreign entry, cause a reallocation of bank credit away from more … transparent borrowers and toward more opaque, more captured borrowers. The paper applies these ideas to the analysis of bank …