European Parliament Library

An Anatomy of Credit Booms :, Evidence From Macro Aggregates and Micro Data, Marco Terrones, Enrique Mendoza

Contributor
Abstract
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also find that credit booms are larger in emerging economies, particularly in the nontradables sector; most emerging markets crises are associated with credit booms; and credit booms in emerging economies are often preceded by large capital inflows but not by financial reforms or productivity gains
Language
eng
Literary Form
non fiction
Note
Bibliographic Level Mode of Issuance: Monograph
Physical Description
1 online resource (52 pages), illustrations (some color).
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462327539

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