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Credit rationing and credit view: empirical evidence from loan data

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Author Info
Leonardo Becchetti () (Faculty of Economics, University of Rome "Tor Vergata")
Melody Garcia (Faculty of Economics, University of Rome "Tor Vergata")
Giovanni Trovato () (Faculty of Economics, University of Rome "Tor Vergata")

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Abstract

The empirical literature tries to identify credit rationing and its determinants by using balance sheet data or evidence from corporate surveys. Observational equivalence, identification problems, and interview biases are serious problems in these studies. We analyse the determinants of credit rationing directly on credit files by looking at the difference between the amount demanded and supplied to each borrower from official bank records. Our findings provide microeconomic evidence in support of the credit view hypothesis showing that the European Central Bank refinancing rate is significantly and positively related to partial (but not total) credit rationing. This finding is consistent with the hypothesis that such variable affects the total volume of commercial bank loans.

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File URL: ftp://www.ceistorvergata.it/repec/rpaper/RP144.pdf
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Publisher Info
Paper provided by Tor Vergata University, CEIS in its series CEIS Research Paper with number 144.

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Length: 32 pages
Date of creation: 30 Sep 2009
Date of revision: 30 Sep 2009
Handle: RePEc:rtv:ceisrp:144

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Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
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Web page: http://www.ceistorvergata.it
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Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
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Web: http://www.ceistorvergata.it

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Related research
Keywords: credit rationing; credit view; loan data.;

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Find related papers by JEL classification:
E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

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