limit procyclicality. The case of Spainthe country with the longest experienceis reviewed, as well as those of Colombia and …After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality …

banking sector appears resilient to credit risk stress tests, liquidity stress test results reveal some weaknesses owing to …

effective in reducing pro-cyclicality and the effectiveness is sensitive to the type of shock facing the financial sector. Based …

This paper analyzes the credit crunch following the recent financial crisis in Korea. Using enterprise-level data, we … find that there were big differences in the magnitude of the credit contraction across different types of firms. In … particular, chaebol (conglomerate)-affiliated firms appeared to have lost the preferential access to credit they enjoyed in the …

large MFIs provide credit to small- and medium-sized enterprises, but their access to financial services suffers from …