The Central, Eastern and South-Eastern Europe (CESEE) Bank Lending Survey was developed in the context of the Vienna Initiative 2.0 and has been endorsed by the various participating institutions as an instrument for: monitoring cross-border banking activities and deleveraging in the region;...

This paper assesses the impact of the sovereign risk spill-overs onto corporate cost of borrowing in selected euro area countries. It confirms the heterogeneity of sovereign risk spill-overs and finds divergence in sovereign risk transmission between core and peripheral Member States during...

This paper examines the relationship between net trade credit and firms' investment levels, focusing on financially distressed firms. First, it introduces a theoretical model to predict the role played by net trade credit as a coordination device differentiating firms by their degree of...