may vary across lenders. We find strong evidence that credit tightened in the relatively early stages of the crises caused … domestic banks. The observed decline in credit is greater among high-risk firms and firms with fewer tangible assets. …

smooth transmission of credit to borrowers. While results from the years prior to the crisis often cast doubts on the … provision of credit. We show that new factors, such as changes in banks’ business models and market funding patterns, had …

Bulgaria has for years been facing some of the highest credit growth rates and current account deficits in Central and … combination of administrative and prudential measures to curb credit growth. The introduction of defacto credit ceilings has … successfully reduced credit growth to below 20%. However, increased recourse by the corporate sector to direct foreign borrowing …