Don’t Stop Me Now: The Impact of Credit Market Fragmentation on Firms’ Financing Constraints
This paper investigates how the withdrawal of banks from their cross-border business impacted the borrowing costs of European firms since the crisis...
DP 67
External Financial Dependence and Firms’ Crisis Performance across Europe
Economic research has often relied on a measure of external financial dependence that is constructed using U.S. data and applied to other countries...
DP 65
Europe’s proposed capital markets union: Disruption will drive investment and innovation
The proposed EU capital markets union aims to revitalise Europe’s economy by creating efficient funding channels between providers of loanable funds...