Access to credit, capital constraints and banking system. The experience of the financial crisis

In this article the author provides a critical review of the theoretical and empirical literature on the factors that cause the reduction in corporate loans. The analysis focuses in particular on the studies that have analyzed the disruption of credit markets and finance have occurred in the United States after the subprime mortgage crisis and in the euro-zone as a result of the sovereign debt crisis. The author finally discusses the possible policy measures that governments could adopt, especially in Europe, to reactivate the credit market.