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| Author: | Puri, M. Rocholl, J. Steffen, S. |
| Title: | Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects |
| Journal: | Journal of Financial Economics
2011 : JUN, VOL. 100:3 p. 556-578 |
| Index terms: | USA financial crises supply and demand loans credit rationing finance banks Germany Europe |
| Language: | eng |
| Abstract: | This paper explores the broader effects of the U.S. financial crisis on global lending to retail customers. It examines especially retail bank lending in Germany taking advantage of a unique dataset of German savings banks over the period 2006-2008 for which we have the universe of loan applications and loans granted. The paper can distinguish btw. demand and supply side effects of bank lending and find that the U.S. financial crisis induced a contraction in the supply of retail lending in Germany. It presents evidence that the affected banks reject substantially more loan applications than non-affected banks. It has also been found that bank-depositor relationships help mitigate these supply side effects. |
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