Has the Financial Crisis Induced a Credit Crunch for Small and Medium-Sized Enterprises in Germany?

Inhaltsverzeichnis (Table of Contents)

• 1 INTRODUCTION
• 1.1 DESCRIPTION OF THE PROBLEM AND COURSE OF THE THESIS
• 1.2 FRAMEWORK
• 1.2.1 FINANCIAL CRISIS
• 1.2.2 CREDIT RATIONING AND IS-LM AS THEORETICAL MODELS
• 1.2.3 SMALL AND MEDIUM-SIZED ENTERPRISES IN GERMANY
• 1.2.4 GERMAN CREDIT BANKING SYSTEM
• 2 IMPACTS ON THE CORPORATE CREDIT DEMAND AND SUPPLY
• 2.1 DEMAND SIDE
• 2.1.1 BASEL 2, RATINGS AND REQUIRED CAPITAL ATTRIBUTION
• 2.1.2 MACROECONOMIC CONTRACTION AND DEVELOPMENT OF RATINGS
• 2.1.3 MACROECONOMIC CONTRACTION AND BORROWERS' BALANCE SHEETS
• 2.1.4 OTHER FACTORS THAT INFLUENCE - A LOAN PRICING MODEL
• 2.2 SUPPLY SIDE
• 2.2.1 AVAILABLE ECONOMIC CAPITAL
• 2.2.2 SECURIZATION OF BANK LOANS
• 2.2.3 ALTERNATIVE DEMAND AND MONETARY POLICY
• 3 EVIDENCE OF A CREDIT CRUNCH IN GERMANY
• 3.1 DEVELOPMENT OF THE TOTAL LENDING VOLUME IN GERMANY
• 3.2 ANALYSIS ON THE BASIS OF THE ECB BANK LENDING SURVEY
• 4 CONCLUSION

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis examines the potential credit crunch experienced by small and medium-sized enterprises (SMEs) in Germany following the global financial crisis of 2008. The work analyzes the impact of the crisis on both the demand and supply sides of the corporate credit market, exploring the role of factors such as Basel II regulations, macroeconomic contraction, and bank lending behavior.

• Impact of the financial crisis on corporate credit demand and supply
• The role of Basel II regulations in influencing credit risk and capital allocation
• The impact of macroeconomic contraction on borrowers' balance sheets and rating agencies
• The interplay of bank lending behavior, available economic capital, and the securitization of bank loans
• Evidence of a credit crunch in Germany based on lending volume data and the ECB bank lending survey

Zusammenfassung der Kapitel (Chapter Summaries)

• Chapter 1: Introduction - This chapter sets the stage for the thesis, defining the problem of potential credit crunches for SMEs in Germany and outlining the framework for the analysis. It introduces the key concepts of the financial crisis, credit rationing, and the relevant macroeconomic and banking system characteristics in Germany.
• Chapter 2: Impacts on the Corporate Credit Demand and Supply - This chapter delves into the impact of the financial crisis on both the demand and supply sides of the corporate credit market. It examines the effects of Basel II regulations, macroeconomic contraction, and the specific circumstances of borrowers on credit demand. The supply side analysis focuses on factors such as available economic capital, securitization of bank loans, and the role of monetary policy.
• Chapter 3: Evidence of a Credit Crunch in Germany - This chapter presents empirical evidence regarding the potential credit crunch experienced by SMEs in Germany. The chapter analyzes the development of total lending volume and examines the findings of the ECB bank lending survey.

Schlüsselwörter (Keywords)

This thesis focuses on the impact of the 2008 financial crisis on the German credit market, particularly concerning the availability of credit for small and medium-sized enterprises (SMEs). Key themes include Basel II regulations, credit rationing, macroeconomic contraction, bank lending behavior, securitization of bank loans, and the analysis of lending volume data. The study provides insights into the potential credit crunch experienced by SMEs in Germany and its potential ramifications for the German economy.