Credit Rationing in Greece During and After the Financial Crisis

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F17%3A43911161" target="_blank" >RIV/62156489:43110/17:43911161 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216305:26220/17:PU121691

Výsledek na webu

<a href="http://journal.fsv.cuni.cz/mag/article/show/id/1382" target="_blank" >http://journal.fsv.cuni.cz/mag/article/show/id/1382</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Credit Rationing in Greece During and After the Financial Crisis

Popis výsledku v původním jazyce

The financial crisis has revealed the vulnerability of the Eurozone&apos;s banking sector to adverse macroeconomic shocks. In this paper we investigate corporate access to bank credit in Greece, combining microeconometric and macroeconometric empirical methods. We employ the Non-parametric Kernel estimate to identify credit rationing at the firm-level and a disequilibrium maximum likelihood approach to identify periods of credit market disequilibrium in Greece between 2003 Q1 and 2015 Q4. The empirical analysis reveals a credit crunch in Greece between 2008 Q4 and 2012 Q4 and provides evidence that credit rationing during this period was not only caused by banking sector factors but also by increasing firm-specific credit risk and by deterioration of the financial health indicators of companies.

Název v anglickém jazyce

Credit Rationing in Greece During and After the Financial Crisis

Popis výsledku anglicky

The financial crisis has revealed the vulnerability of the Eurozone&apos;s banking sector to adverse macroeconomic shocks. In this paper we investigate corporate access to bank credit in Greece, combining microeconometric and macroeconometric empirical methods. We employ the Non-parametric Kernel estimate to identify credit rationing at the firm-level and a disequilibrium maximum likelihood approach to identify periods of credit market disequilibrium in Greece between 2003 Q1 and 2015 Q4. The empirical analysis reveals a credit crunch in Greece between 2008 Q4 and 2012 Q4 and provides evidence that credit rationing during this period was not only caused by banking sector factors but also by increasing firm-specific credit risk and by deterioration of the financial health indicators of companies.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

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OECD FORD obor

50602 - Public administration

Projekt

Výsledek vznikl pri realizaci vícero projektů. Více informací v záložce Projekty.

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Finance a úvěr-Czech Journal of Economics and Finance

ISSN

0015-1920

e-ISSN

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Svazek periodika

67

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

21

Strana od-do

119-139

Kód UT WoS článku

000400932500003

EID výsledku v databázi Scopus

2-s2.0-85018260433