ABSTRACT
This chapter explores the emerging global geo-political economic structure of global syndicated credit markets as a geo-historical product since the mid-1980s. It analyzes changes in inter-organizational dynamics embedded in the syndicated credit networks among lenders in three core regional markets: Industrialized Asia, North America, and Western Europe. Despite their relatively important status in global syndicated credit flows, intra-regional syndicated credit flows of Industrialized Asia remained much smaller than those present in North America and West Europe. The chapter examines the overall geographies of syndicated credit flows and how regional flows of syndicated credits are organized through inter-organizational dynamics among lenders. Syndicated credits depend on lead lenders' monitoring powers rather than public credit ratings. Because they also require significant information flows between lead role banks and borrowers, they resemble relation-based financing more than transaction-based financing.
