An Anatomy of Credit Booms

An Anatomy of Credit Booms
Author :
Publisher : International Monetary Fund
Total Pages : 52
Release :
ISBN-10 : 9781451870848
ISBN-13 : 1451870841
Rating : 4/5 (48 Downloads)

Book Synopsis An Anatomy of Credit Booms by : Mr.Marco Terrones

Download or read book An Anatomy of Credit Booms written by Mr.Marco Terrones and published by International Monetary Fund. This book was released on 2008-09-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.


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