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KORÁB, P. POMĚNKOVÁ, J.
Originální název
Credit Rationing in Greece During and After the Financial Crisis
Typ
článek v časopise ve Web of Science, Jimp
Jazyk
angličtina
Originální abstrakt
The financial crisis has revealed the vulnerability of the banking sector in the Eurozone 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 reasoned by the banking sector factors but also by increasing firm-specific credit risk and by deterioration of financial health indicators of companies.
Klíčová slova
credit crunch, credit rationing, financial crisis, credit market disequilibrium, non-parametric estimate.
Autoři
KORÁB, P.; POMĚNKOVÁ, J.
Vydáno
13. 4. 2017
Nakladatel
FINANCE A ÚVĚR-CZECH JOURNAL OF ECONOMICS AND FINANCE
Místo
Praha
ISSN
0015-1920
Periodikum
FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE
Ročník
67
Číslo
2
Stát
Česká republika
Strany od
119
Strany do
139
Strany počet
21
URL
http://journal.fsv.cuni.cz/mag/article/show/id/1382
BibTex
@article{BUT131050, author="Petr {Koráb} and Jitka {Dluhá}", title="Credit Rationing in Greece During and After the Financial Crisis", journal="FINANCE A UVER-CZECH JOURNAL OF ECONOMICS AND FINANCE", year="2017", volume="67", number="2", pages="119--139", issn="0015-1920", url="http://journal.fsv.cuni.cz/mag/article/show/id/1382" }