Credit rationing and credit view: empirical evidence from loan data

Leonardo Becchetti, Melody Garcia and Giovanni Trovato ()
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Melody Garcia: Faculty of Economics, University of Rome "Tor Vergata", http://www.ceistorvergata.it
Authors registered in the RePEc Author Service: Maria Melody Garcia Schustereder

No 144, CEIS Research Paper from Tor Vergata University, CEIS

Abstract: The empirical literature tries to identify credit rationing and its determinants by using balance sheet data or evidence from corporate surveys. Observational equivalence, identification problems, and interview biases are serious problems in these studies. We analyse the determinants of credit rationing directly on credit files by looking at the difference between the amount demanded and supplied to each borrower from official bank records. Our findings provide microeconomic evidence in support of the credit view hypothesis 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 such variable affects the total volume of commercial bank loans.

Keywords: credit rationing; credit view; loan data. (search for similar items in EconPapers)
JEL-codes: E51 G21 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2009-09-30, Revised 2009-09-30
New Economics Papers: this item is included in nep-ban and nep-mac
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:rtv:ceisrp:144

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