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Determinants of long†versus short†term bank credit in EU countries

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  • Haelim Park Anderson
  • Claudia Ruiz†Ortega
  • Thierry Tressel

Abstract

This paper empirically examines the determinants of credit at different maturities across countries of the European Union during the last decade. We document the lengthening of maturities since the early 2000s and whether these patterns were driven by similar factors in advanced and emerging market economies. Before the 2008 crisis, long†term credit expanded faster than short†term credit in most countries of our sample and contracted less than short†term credit after 2008. We find that foreign liabilities were more important sources of funding in emerging market countries than in advanced economies. In addition, aggregate demand mattered less for credit extension to firms in emerging market countries than in advanced countries.

Suggested Citation

  • Haelim Park Anderson & Claudia Ruiz†Ortega & Thierry Tressel, 2017. "Determinants of long†versus short†term bank credit in EU countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(4), pages 274-295, October.
    • Handle: RePEc:wly:ijfiec:v:22:y:2017:i:4:p:274-295
    DOI: 10.1002/ijfe.1583
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    Cited by:

    1. Florian Leon, 2019. "The provision of long-term credit and firm growth," DEM Discussion Paper Series 19-08, Department of Economics at the University of Luxembourg.
    2. Gozgor, Giray, 2018. "Determinants of the domestic credits in developing economies: The role of political risks," Research in International Business and Finance, Elsevier, vol. 46(C), pages 430-443.
    3. Léon, Florian, 2020. "The provision of long-term credit and firm growth in developing countries," Economic Modelling, Elsevier, vol. 90(C), pages 66-78.
    4. Gozgor, Giray & Demir, Ender & Belas, Jaroslav & Yesilyurt, Serkan, 2019. "Does economic uncertainty affect domestic credits? an empirical investigation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 63(C).

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