NDLI: How Has the Global Financial Crisis Affected Syndicated Loan Terms in Emerging Markets? Evidence from China

Content Provider	Semantic Scholar
Author	Caporale, Guglielmo Maria Lodh, Suman Nandy, Monomita
Copyright Year	2018
Abstract	This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks and more domestic participation in the syndicated loan market. As a result, during the crisis the volume of syndicated loans grew steadily, in contrast to other countries. In addition, the amount of foreign syndicated loans decreased and average maturity increased compared to the pre-crisis period. Our findings provide useful information to policy makers to devise effective responses to financial crises.
Starting Page	478
Ending Page	491
Page Count	14
File Format	PDF HTM / HTML
DOI	10.1002/ijfe.1633
Volume Number	23
Alternate Webpage(s)	https://www.econstor.eu/bitstream/10419/110856/1/cesifo_wp5353.pdf
Alternate Webpage(s)	https://doi.org/10.1002/ijfe.1633
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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