The paper examines the effect of macroeconomic imbalances on bank lending with emphasis on the exchange rate movement, inflation differential and fiscal deficit. In the study, bank lending is modelled by gross loans and advances, assets quality and risk appetite. The panel GMM model results show...

Micro, Small and Medium-sized Enterprises (MSMEs) are crucial drivers of economic growth. In Kenya, MSMEs represent about 98 percent of all businesses and contribute over 30 percent to the GDP. Despite their essential role in the economy, these enterprises face substantial challenges in...

ypical debt sustainability metrics characterize Kenya's sovereign debt as "unsustainable" since around 2019. Further, the data show that, over time, commercial banks' private sector lending has declined while lending to the government has grown. Given these observations, this study examines...

The study aimed to identify economic risks, in particular the impact of currency fluctuations, inflation and changes in tax policy on the financial security of Ukrainian agricultural enterprises. The data of such companies as Myronivsky Hliboproduct, Kernel and Slobozhansky Agrocombine were...

This paper examines the extent to which local newspaper closures affect discrimination against minority borrowers in mortgage lending. I Ąnd that following a newspaper closure, interest rate differentials between minority (black or Hispanic) and comparable non-minority borrowers increase by 5.5...

The study aimed to identify economic risks, in particular the impact of currency fluctuations, inflation and changes in tax policy on the financial security of Ukrainian agricultural enterprises. The data of such companies as Myronivsky Hliboproduct, Kernel and Slobozhansky Agrocombine were...

This paper is the first comprehensive analysis of the secured lending practices of Chinese creditors in emerging market and developing economies (EMDEs). We present a new dataset and detailed case studies of collateralized public and publicly guaranteed (PPG) loans from Chinese state-owned...

This paper is the first comprehensive analysis of the secured lending practices of Chinese creditors in emerging market and developing economies (EMDEs). We present a new dataset and detailed case studies of collateralized public and publicly guaranteed (PPG) loans from Chinese state-owned...

How can a currency achieve more widespread international use? We study the internationalization of the Chinese renminbi (RMB) through the lens of a unique policy experiment in Argentina. In 2023, amid a severe dollar shortage, Argentina expanded a currency swap line with the People's Bank of...

This study examines the relationship between banking sector development (credit and deposits) and economic growth in Ecuador, using quarterly data for the period 2000-2022. An ARDL approach with Bound Test cointegration is employed, incorporating structural breaks using the Bai-Perron test and...

How can a currency achieve more widespread international use? We study the internationalization of the Chinese renminbi (RMB) through the lens of a unique policy experiment in Argentina. In 2023, amid a severe dollar shortage, Argentina expanded a currency swap line with the People's Bank of...

Combining euro-area credit register and carbon emission data, we provide evidence of a climate risk-taking channel in banks' lending policies. Banks charge higher interest rates to firms featuring greater carbon emissions, and lower rates to firms committing to lower emissions, controlling for...

We investigate whether European banks adjust their loan prices and volumes of new lending in the months running up to major national elections. Using a unique dataset that draws on data covering some 250 banksin 19 Eurozone countries from 2010 to 2020 at monthly frequency, and that includes...

In the 1910s and 1920s, the major Berlin private banks created extensive branch networks. Among them the Commerzbank stood out in particular, building up the second-largest branch network by the mid-1920s. However, the expansion was plagued by problems from the outset. Until the 1930s,...

This paper provides an overview of stress-testing methodologies in Europe, with a focus on the advancements made by the European Central Bank's Financial Stability Committee Working Group on Stress Testing (WGST). Over a four-year period, the WGST played a pivotal role in refining stress-testing...

Brock and De Haas (2023) study the effect of randomising applicant gender in small business loan applications that are reviewed by loan officers at a Turkish bank in a lab-in-the-field experiment based on real-life applications. The main results are: first, that loan approval rates are not...

Combining euro-area credit register and carbon emission data, we provide evidence of a climate risk-taking channel in banks' lending policies. Banks charge higher interest rates to firms featuring greater carbon emissions, and lower rates to firms committing to lower emissions, controlling for...

Brock and De Haas (2023) study the effect of randomising applicant gender in small business loan applications that are reviewed by loan officers at a Turkish bank in a lab-in-the-field experiment based on real-life applications. The main re- sults are: first, that loan approval rates are not...

In the 1910s and 1920s, the major Berlin private banks created extensive branch networks. Among them the Commerzbank stood out in particular, building up the second-largest branch network by the mid-1920s. However, the expansion was plagued by problems from the outset. Until the 1930s,...

This paper provides an overview of stress-testing methodologies in Europe, with a focus on the advancements made by the European Central Bank's Financial Stability Committee Working Group on Stress Testing (WGST). Over a four-year period, the WGST played a pivotal role in refining stress-testing...

We examine the nonlinear relationship between interest rates on bank risk-taking behavior in South Africa between 2008:q1 and 2022:q3 using nonlinear autoregressive distributive lag (NARDL) and quantile autoregressive distributive lag (QARDL) models. Whilst the preliminary estimates from linear...

We investigate whether European banks adjust their loan prices and volumes of new lending in the months running up to major national elections. Using a unique dataset that draws on data covering some 250 banksin 19 Eurozone countries from 2010 to 2020 at monthly frequency, and that includes...

Chapter 1: Beyond Banks: An Introduction Christiaan van Bochove, Juliette Levy -- Chapter 2: The Decline of a Great Financial Intermediary: Notaries in France, 1851-1934 Philip Hoffman, Gilles Postel-Vinay, Jean-Laurent Rosenthal -- Chapter 3: Financial Intermediation in Colonial 17th- and...

Chapter 1. Introduction, Matteo Pompermaier – Università degli studi di Brescia -- Chapter 2. Historical Social Network Analysis and Early Financial Exchanges -- Chapter 3. Formation and Sustainability of Financial Networks in Early Modern Europe -- Chapter 4. Married Women in the Rural...