Attempts have been made in the empirical literature to identify credit rationing and its determinants using balance sheet data or evidence from corporate surveys. However, observational equivalence, identification problems, and interview biases are serious problems in these studies.We analyze directly the determinants of credit rationing in credit files by examining the difference between the amounts demanded by and supplied to each borrower, as shown by official bank records. Our findings provide microeconomic evidence that supports the credit view hypothesis by showing that the European Central Bank refinancing rate is significantly and positively related to partial (but not total) credit rationing. This finding is consistent with the hypothesis that this variable affects the total volume of bank loans.

Becchetti, L., Garcia, M., & Trovato, G. (2011). Credit rationing and credit view: empirical evidence from an ethical bank in Italy. JOURNAL OF MONEY, CREDIT, AND BANKING, 43(6), 1217-1245 [10.1111/j.1538-4616.2011.00423.x].

Credit rationing and credit view: empirical evidence from an ethical bank in Italy

BECCHETTI, LEONARDO;TROVATO, GIOVANNI
2011

Abstract

Attempts have been made in the empirical literature to identify credit rationing and its determinants using balance sheet data or evidence from corporate surveys. However, observational equivalence, identification problems, and interview biases are serious problems in these studies.We analyze directly the determinants of credit rationing in credit files by examining the difference between the amounts demanded by and supplied to each borrower, as shown by official bank records. Our findings provide microeconomic evidence that supports the credit view hypothesis by showing that the European Central Bank refinancing rate is significantly and positively related to partial (but not total) credit rationing. This finding is consistent with the hypothesis that this variable affects the total volume of bank loans.
Pubblicato
Rilevanza internazionale
Articolo
Sì, ma tipo non specificato
Settore SECS-P/01 - Economia Politica
eng
Con Impact Factor ISI
credit rationing; credit view; loan data
Becchetti, L., Garcia, M., & Trovato, G. (2011). Credit rationing and credit view: empirical evidence from an ethical bank in Italy. JOURNAL OF MONEY, CREDIT, AND BANKING, 43(6), 1217-1245 [10.1111/j.1538-4616.2011.00423.x].
Becchetti, L; Garcia, M; Trovato, G
Articolo su rivista
File in questo prodotto:
File Dimensione Formato  
JMCB.pdf.pdf

accesso aperto

Licenza: Copyright dell'editore
Dimensione 181.6 kB
Formato Adobe PDF
181.6 kB Adobe PDF Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/2108/53348
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 25
  • ???jsp.display-item.citation.isi??? 22
social impact