evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with … poor credit markets. Second I present a model in which the presence or the absence of foreign lenders endogenously modifies … firms credit constraints and hence the volume of credit extended in the economy. Specifically, I show on the one hand that …

. We find credit spreads to be negatively related to market size in small markets and positively related in large financial …

most CESEE countries included triggers for strong credit growth, especially in the private sector. What are the transition … results on the macro level? Does this credit growth contribute to financial and economic development or is there a risk of a … transition-driven overshooting? We review the literature and empirical studies on financial development, credit growth and …

European firms since the crisis. We combine aggregate information on total and cross-border credit with firm-level survey data … conditions of small firms. In countries with more pronounced reductions in cross-border credit inflows, the likelihood of a rise …

concentration tends to lower domestic credit growth and nonperforming loans, while we find no impact on bank profitability for the …