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In this paper, I build a continuous-time macro-finance model in which firms can access both bond credit and bank credit …. The model captures the simple idea that the presence of bond financing lowers the price elasticity of demand for bank … loans. I find that the optimal capital adequacy ratio is quantitatively sensitive to the presence of bond financing and that …
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Nonbank lenders have been playing an increasingly important role in the supply of debt financing, especially post Great Recession. These nonbank financial institutions not only participate in syndicated loans to large businesses but also act as direct lenders to small and mid-sized businesses,...
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The COVID-19 crisis raises the risk of renewed financial sector pressures in the Caucasus and Central Asia (CCA) region in the period ahead. Bank distress and its economic and fiscal fallout have been recurring features of many CCA countries, as seen after the global financial crisis and the...
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The development of financial sectors is considered as one of vital determinants of the growth of Ethiopian economy, and for secure equitable distribution of the benefits to the society. However, financial distress has an effect on the sectors. This review was conducted to assess financial...
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