The recent financial crisis in Europe has been followed by a significant decrease in credit flows to nonfinancial enterprises. This article investigates demand and supply of loans using data from surveys. Our econometric analysis suggests that recent European Central Bank (ECB) policy has favoured the credit market. Although bank credit standards are tighter than usual, the present low-credit growth is more the consequence of a weak demand for loans than a reduced supply from the banking system.
Supply and demand in the European credit market during the recent crisis
SOANA, MARIA GAIA
2012
Abstract
The recent financial crisis in Europe has been followed by a significant decrease in credit flows to nonfinancial enterprises. This article investigates demand and supply of loans using data from surveys. Our econometric analysis suggests that recent European Central Bank (ECB) policy has favoured the credit market. Although bank credit standards are tighter than usual, the present low-credit growth is more the consequence of a weak demand for loans than a reduced supply from the banking system.File in questo prodotto:
Non ci sono file associati a questo prodotto.
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.