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Credit Rationing in Italy

In: The Banks and the Italian Economy

Author

Listed:
  • Mariarosaria Agostino

    (Università della Calabria)

  • Damiano B. Silipo

    (Università della Calabria)

  • Francesco Trivieri

    (Università della Calabria)

Abstract

This work presents new evidence on the determinants of credit rationing, seeking to discriminate between different theories by nesting them within a general empirical model. We consider determinants related to the demand for loans, the supply side, and institutional and environmental aspects affecting borrowers’ and banks’ behaviour in local credit markets. Another generalization of our approach is to consider both consumer and business credit constraints. Using direct measures of credit rationing provided by surveys carried out by the Bank of Italy and by Capitalia for the period 1995–2003, we estimate the impact of the main determinants of credit rationing in the Italian local credit markets. Our chief finding is that most of the regressors capturing the determinants from the demand side are significant and with the expected sign. By contrast, supply side determinants and local market conditions are not significant, save for the measure of banking competition and branch density.

Suggested Citation

  • Mariarosaria Agostino & Damiano B. Silipo & Francesco Trivieri, 2009. "Credit Rationing in Italy," Springer Books, in: Damiano Bruno Silipo (ed.), The Banks and the Italian Economy, chapter 0, pages 7-29, Springer.
    • Handle: RePEc:spr:sprchp:978-3-7908-2112-3_2
    DOI: 10.1007/978-3-7908-2112-3_2
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    Citations

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    Cited by:

    1. David Martinez-Miera & Rafael Repullo, 2019. "Monetary Policy, Macroprudential Policy, and Financial Stability," Annual Review of Economics, Annual Reviews, vol. 11(1), pages 809-832, August.
    2. Malovaná, Simona & Kolcunová, Dominika & Brož, Václav, 2019. "Does monetary policy influence banks’ risk weights under the internal ratings-based approach?," Economic Systems, Elsevier, vol. 43(2), pages 1-1.
    3. Simona Malovana & Dominika Kolcunova & Vaclav Broz, 2017. "Does Monetary Policy Influence Banks' Perception of Risks?," Working Papers 2017/9, Czech National Bank.
    4. Simona Malovana, 2017. "Banks' Capital Surplus and the Impact of Additional Capital Requirements," Working Papers 2017/8, Czech National Bank.

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