First published on
26 September 2015
Discussion Paper 12

Small Firms and Domestic Bank Dependence in Europe’s Great Recession


Mathias Hoffmann (University of Zurich & CESifo) and Bent E. Sørensen (University of Houston & CEPR) look at the relationship between the dependency of small firms on domestic banks and their vulnerability to global banking sector shocks. This Discussion Paper was prepared under DG ECFIN’s 2014-2015 Fellowship Initiative “Growth, integration and structural convergence revisited”.


Mathias Hoffmann, Bent E. Sorensen

Information and identifiers

(Discussion Papers 12. September 2015. Brussels. PDF. 44pp. Tab. Graph. Ann. Bibliogr. Free.)

KC-BD-15-012-EN-N (online)
ISBN 978-92-79-48680-7 (online)
ISSN 2443-8022 (online)
doi: 10.2765/652169 (online)

JEL classification: F30, F36, F40, F45


Discussion Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and to seek comments and suggestions for further analysis. The views expressed are the author’s alone and do not necessarily correspond to those of the European Commission.


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