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Does lending relationship help or alleviate the transmission of liquidity shocks? Evidence from a liquidity crunch in China
(08.05.2018)
BOFIT Discussion Papers 13/2018
BOFIT Discussion Papers 13/2018
We examine China’s June 2013 liquidity crunch as a negative shock to banks and analyze the wealth effects on exchange-listed firms. Our findings suggest that liquidity shocks to financial institutions negatively impact ...