[Debt capacity from
banks and credit crunch: some empirical observations]
Franco
Varetto
National
Research Council of Italy
Institute for Economic Research on Firm and Growth
CNR-Ceris, Via Real Collegio 30,
10024 Moncalieri (To), Italy
Mail:
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Abstract: The financial crisis has
emphasized the importance of the credit crunch in constraining the financing of
the firms. The debt capacity from banks is defined as the maximum amount of
debt that the banks are available to grant to companies. Using annual report’s
data and information from Centrale dei Rischi of Bank of Italy on a set of 321
industrial firms some econometric models on bank overdrafts have been
estimated. Applying the models estimated on 2009 data to 2011 data has been
obtained an appraisal of the credit crunch between 14% and 15% of the total
bank lending to these companies.
Keywords: financial crisis,
corporate annual reports, credit crunch, bank of italy’s credit loans database,
bank lending.