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Contagion internationale post -Lehman, marges intensive et extensive

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  • Louis-Marie Harpedanne de Belleville

Abstract

Following the collapse of Lehman Brothers, local lending to French firms by foreign banks experienced a noticeable decline. We adapt the methodology proposed by Gan [2007] and Khwaja and Mian [2008] to control for borrower heterogeneity and identify the existence of a loan supply shock. We evidence that analysing the intensive margin is not sufficient. The decrease in lending by foreign banks remains significant after controlling for domestic banking factors, state intervention and aggregate demand for loans. It is stronger for banks from areas more affected by the crisis. Therefore the cause of this decline is international financial contagion.

Suggested Citation

  • Louis-Marie Harpedanne de Belleville, 2015. "Contagion internationale post -Lehman, marges intensive et extensive," Revue française d'économie, Presses de Sciences-Po, vol. 0(3), pages 143-188.
  • Handle: RePEc:cai:rferfe:rfe_153_0143
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