Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market

The authors thank Victoria Ivashina (the editor), an anonymous associate editor, two anonymous referees, Thorsten Beck (discussant), Valentina Bruno, Ramona Dagostino (discussant), Arvind Krishnamurthy, Ralf Meisenzahl, Karsten Müller (discussant), Alp Simsek, Anjan Thakor (discussant), and Emil Verner as well as seminar and conference participants at the American Finance Association, the Bundesbank Workshop on Financial Intermediation and Corporate Debt Markets, the European Central Bank, the Financial Intermediation Research Society, Katholieke Universiteit Leuven, the London School of Economics Systemic Risk Center, the Annual Workshop of the European System of Central Banks on Financial Stability, Macroprudential Regulation and Microprudential Supervision, and the 2020 Financial Intermediation Network of European Studies Autumn Workshop for comments.