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Relationship and Transaction Lending: New Evidence and Perspectives

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  • Leonardo Gambacorta

Abstract

In this article, I try to answer three questions: (1) How do relationship lending and transaction lending vary over the cycle? (2) How do economic systems that are more “bank oriented” perform compared to “market-oriented” systems? (3) What are the consequences on relationship banking of the recent structural bank regulation reforms adopted to separate specific investment and commercial banking activities? Building on some recent evidence, the main conclusions are as follows: (1) Relationship banks protect their clients in normal downturns; (2) when recessions coincide with a financial crisis, countries that rely relatively more on bank financing tend to be more severely hit; (3) the effects of structural bank regulation initiatives on relationship banking are uncertain.

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  • Leonardo Gambacorta, 2016. "Relationship and Transaction Lending: New Evidence and Perspectives," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(1), pages 70-75, January.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:1:p:70-75
    DOI: 10.1080/1540496X.2016.1105682
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    Cited by:

    1. Lu, Yao & Zhan, Shuwei & Zhan, Minghua, 2024. "Has FinTech changed the sensitivity of corporate investment to interest rates?—Evidence from China," Research in International Business and Finance, Elsevier, vol. 68(C).
    2. Juan Carlos Cuestas & Yannick Lucotte & Nicolas Reigl, 2022. "The evolution and heterogeneity of credit procyclicality in Central and Eastern Europe," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 911-942, January.
    3. Angori, Gabriele & Aristei, David & Gallo, Manuela, 2020. "Banking relationships, firm-size heterogeneity and access to credit: Evidence from European firms," Finance Research Letters, Elsevier, vol. 33(C).
    4. Giorgio Calcagnini & Rebel Cole & Germana Giombini & Gloria Grandicelli, 2018. "Hierarchy of bank loan approval and loan performance," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(3), pages 935-954, December.
    5. Giorgio Calcagnini & Rebel Cole & Germana Giombini & Giuseppe Travaglini, 2019. "Bank Loan Deterioration: Is It All Fault of the Crisis?," Working Papers 1907, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2019.

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