{
  "title": "Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks",
  "publication": "IMF Working Papers, July 10, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2018/07/10/who-pays-for-financial-crises-price-and-quantity-rationing-of-different-borrowers-by-45909",
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  "summary": "Financial crises result in price and quantity rationing of otherwise creditworthy business borrowers, but little is known about the relative severity of these two types of rationing, which borrowers are rationed most, and the roles of foreign and domestic banks.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Financial crises result in both price and quantity rationing of otherwise creditworthy business borrowers.\n- Publicly-listed borrowers are rationed more by prices or interest rates.\n- Privately-held borrowers are rationed more by the number of loans (quantity rationing).\n- The global financial crisis appears to have changed how banks price borrower risk.\n- There are important differences in rationing and pricing behaviour between foreign and domestic banks.\n- There are important differences in rationing and pricing behaviour between U.S. and non-U.S. loans."
    },
    {
      "heading": "Data and scope",
      "content": "- Dataset covers 50 countries.\n- Dataset contains over 18,000 business loans with information on the lender, the borrower, and contract terms.\n- Subjects: Bank credit, Banking, Credit ratings, Financial crises, Financial institutions, Foreign banks, Loans, Money.\n- Keywords: Bank credit, borrower characteristic, contract term, Credit ratings, Credit Rationing, Financial Crises, Foreign Banks, Global, loan purpose, Loans, private borrower, public borrower, Relationship Lending, WP.\n\n---\n\n Content in this bundle\n\n- wp18158\n  - wp18158 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp18158 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2018/07/10/who-pays-for-financial-crises-price-and-quantity-rationing-of-different-borrowers-by-45909"
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    "[Markdown version](/en/publications/wp/issues/2018/07/10/who-pays-for-financial-crises-price-and-quantity-rationing-of-different-borrowers-by-45909/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2018/07/10/who-pays-for-financial-crises-price-and-quantity-rationing-of-different-borrowers-by-45909/index.json)",
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    "Authors: Allen N. Berger, Tanakorn Makaew, Rima A Turk",
    "Published: July 10, 2018",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781484358191.001",
    "Financial crises result in both price and quantity rationing of otherwise creditworthy business borrowers.",
    "Publicly-listed borrowers are rationed more by prices or interest rates.",
    "Privately-held borrowers are rationed more by the number of loans (quantity rationing).",
    "The global financial crisis appears to have changed how banks price borrower risk.",
    "There are important differences in rationing and pricing behaviour between foreign and domestic banks.",
    "There are important differences in rationing and pricing behaviour between U.S. and non-U.S. loans.",
    "Dataset covers 50 countries.",
    "Dataset contains over 18,000 business loans with information on the lender, the borrower, and contract terms.",
    "Subjects: Bank credit, Banking, Credit ratings, Financial crises, Financial institutions, Foreign banks, Loans, Money.",
    "Keywords: Bank credit, borrower characteristic, contract term, Credit ratings, Credit Rationing, Financial Crises, Foreign Banks, Global, loan purpose, Loans, private borrower, public borrower, Relationship Lending, WP.",
    "**wp18158**"
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