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Pré-Publication, Document De Travail Année : 2015

Domestic Credit in Times of Supervision: an Empirical Investigation of European Countries

Alexandru Monahov
  • Fonction : Auteur

Résumé

We study the impact of prudential supervision on domestic credit in 27 European countries throughout 1999-2012. We use the Empirical Iterative Bayes estimator to account for country heterogeneity. We find: (i) the interest rate not to be a fundamental variable in explaining domestic credit, (ii) negative relations between credit sensitivity to past investment and to financial dependence, (iii) that the effects of supervision on credit differ by country, but (iv) that it is possible to achieve an increase in supervisory stringency with positive effects on credit in the context of unified financial supervision.
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Dates et versions

halshs-01295606 , version 1 (31-03-2016)

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  • HAL Id : halshs-01295606 , version 1

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Thomas Jobert, Alexandru Monahov, Anna Tykhonenko. Domestic Credit in Times of Supervision: an Empirical Investigation of European Countries . 2015. ⟨halshs-01295606⟩
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