TY - BOOK ID - 85504018 TI - Who Pays for Financial Crises? Price and Quantity Rationing of Different Borrowers by Domestic and Foreign Banks AU - Berger, Allen. AU - Makaew, Tanakorn. AU - Turk, Rima. PY - 2018 SN - 1484368169 1484358198 9781484358191 9781484368169 1484368096 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Financial Risk Management KW - Money and Monetary Policy KW - Industries: Financial Services KW - Financial Crises KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Economic Development: Financial Markets KW - Saving and Capital Investment KW - Corporate Finance and Governance KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Banking KW - Finance KW - Economic & financial crises & disasters KW - Monetary economics KW - Foreign banks KW - Loans KW - Financial crises KW - Bank credit KW - Financial institutions KW - Money KW - Credit ratings KW - Banks and banking, Foreign KW - Banks and banking KW - Credit KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:85504018 AB - 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. Using a dataset from 50 countries containing over 18,000 business loans with information on the lender, the borrower, and contract terms, we find that publicly-listed borrowers are rationed more by prices or interest rates, whereas privately-held borrowers are rationed more by the number of loans. Also, the global financial crisis appears to have changed how banks price borrower risk. Further, there are important differences between foreign and domestic banks and between U.S. and non-U.S. loans. ER -