skip to main content
Language:
Search Limited to: Search Limited to: Resource type Show Results with: Show Results with: Search type Index

Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis

The Review of financial studies, 2014-01 [Peer Reviewed Journal]

info:eu-repo/semantics/openAccess © Oxford University Press. This is a pre-copyedited, author-produced version of an article accepted for publication in The Review of Financial Studies following peer review. The version of record Iyer R, Lopes S, Peydró JL, Schoar A. Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis. Rev Financ Stud. 2014 Jan 1;27(1):347-72 is available online at: http://dx.doi.org/10.1093/rfs/hht056 ;ISSN: 0893-9454 ;EISSN: 1465-7368 ;DOI: 10.1093/rfs/hht056

Digital Resources/Online E-Resources

Citations Cited by
  • Title:
    Interbank liquidity crunch and the firm credit crunch: evidence from the 2007-2009 crisis
  • Author: Iyer, Rajkamal ; Lopes, Samuel ; Peydró, José-Luis ; Schoar, Antoinette
  • Subjects: Access to credit ; Banking crisis ; Credit crunch ; Flight to quality ; Interbank markets ; Lender of last resort ; Liquidity hoarding
  • Is Part Of: The Review of financial studies, 2014-01
  • Description: We study the credit supply effects of the unexpected freeze of the European interbank market, using exhaustive Portuguese loan-level data. We find that banks that rely more on interbank borrowing before the crisis decrease their credit supply more during the crisis. The credit supply reduction is stronger for firms that are smaller, with weaker banking relationships. Small firms cannot compensate the credit crunch with other sources of debt. Furthermore, the impact of illiquidity on the credit crunch is stronger for less solvent banks. Finally, there are no overall positive effects of central bank liquidity, but higher hoarding of liquidity. Peydró acknowledges the financial support from project ECO2012-32434 of the Spanish Ministry of Economy and Competitiveness and also from the Spanish Ministry of Economy and Competitiveness through the Severo Ochoa Programme for Centres of Excellence in R&D (SEV-2011-0075).
  • Publisher: Oxford University Press
  • Language: English
  • Identifier: ISSN: 0893-9454
    EISSN: 1465-7368
    DOI: 10.1093/rfs/hht056
  • Source: Recercat
Back to results list
INSPIRE LIBRARY - TON DUC THANG UNIVERSITY (84-028) 37 755 057 Feedback
19 Nguyen Huu Tho St. Dist.7, HCM thuvien@tdtu.edu.vn

Copyright © 2017 INSPIRE LIBRARY - TON DUC THANG UNIVERSITY

Searching Remote Databases, Please Wait