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150128 ||| eng |
| 020 |
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|a 9781484361443
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| 100 |
1 |
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|a Cerutti, Eugenio
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| 245 |
0 |
0 |
|a Financial Crises and the Composition of Cross-Border Lending
|c Eugenio Cerutti, Galina Hale, Camelia Minoiu
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2014
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| 300 |
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|a 59 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a International finance
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Credit
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| 653 |
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|a Cross-border banking
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Banks and banking
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Monetary economics
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| 653 |
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|a Financial institutions
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| 653 |
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|a Financial services
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Globalization: Finance
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| 653 |
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|a Mortgages
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a Money
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| 653 |
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|a International Financial Markets
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| 653 |
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|a International Finance: General
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| 653 |
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|a Loans
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| 653 |
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|a Syndicated loans
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Bank credit
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| 653 |
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|a Banking
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Lines of credit
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| 700 |
1 |
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|a Hale, Galina
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| 700 |
1 |
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|a Minoiu, Camelia
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781484361443.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2014/185/001.2014.issue-185-en.xml?cid=42396-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period. Furthermore, syndicated loan exposures increased during the global financial crisis due to large drawdowns on credit lines extended before the crisis. Our empirical analysis of the drivers of cross-border loan exposures in a large bilateral dataset shows three main results. First, banks with lower levels of capital favor syndicated over other kinds of cross-border loans. Second, borrower country characteristics such as level of development, economic size, and capital account openness, are less important in driving syndicated than non-syndicated loan activity, suggesting a diversification motive for syndication. Third, information asymmetries between lender and borrower countries, which are important both in normal and crisis times, became more binding for both types of cross-border lending activity during the recent crisis
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