Credit availability in the crisis: which role for the European Investment Bank Group?

Fedele, Alessandro ; Mantovani, Andrea ; Liucci, Francesco (2010) Credit availability in the crisis: which role for the European Investment Bank Group? Bologna: Dipartimento di Scienze economiche DSE, p. 23. DOI 10.6092/unibo/amsacta/4542. In: Quaderni - Working Paper DSE (699). ISSN 2282-6483.
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Abstract

In this paper we consider a moral hazard problem between a creditworthy firm which needs funding and a bank. We first study under which conditions the firm does not obtain the loan. We then determine whether and how the intervention of an external financial institution can facilitate the access to credit. In particular, we focus on the European Investment Bank Group (EIBG), which provides (i) specific credit lines to help banks that finance small and medium-sized enterprises (SMEs)and (ii) guarantees for portfolios of SMEs'loans. We show that only during crises the EIBG intervention allows to totally overcome the credit crunch.

Abstract
Document type
Monograph (Working Paper)
Creators
CreatorsAffiliationORCID
Fedele, Alessandro
Mantovani, Andrea
Liucci, Francesco
Keywords
credit crunch, moral hazard, EIBG, SMEs
Subjects
ISSN
2282-6483
DOI
Deposit date
04 Feb 2016 11:44
Last modified
04 Feb 2016 11:44
URI

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