Credit expansion in emerging markets : propeller of growth /

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Bibliographic Details
Author / Creator:	Garcia-Escribano, Mercedes, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2015.
Description:	1 online resource (24 pages) : color illustrations.
Language:	English
Series:	IMF working paper ; WP/15/212 IMF working paper ; WP/15/212.
Subject:	Credit control -- Developing countries -- Econometric models. Economic development -- Developing countries -- Econometric models. Credit control -- Brazil -- Econometric models. Economic development -- Brazil -- Econometric models. Credit control -- Econometric models. Economic development -- Econometric models. Brazil. Developing countries.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12504748

Hidden Bibliographic Details
Other authors / contributors:	Fei, Han, author. International Monetary Fund. Western Hemisphere Department.
ISBN:	1513581929 9781513581927
ISSN:	1018-5941
Notes:	"September 2015." "Western Hemisphere Department." Includes bibliographical references (pages 22-23). Online resource; title from pdf title page (IMF.org Web site, viewed October 7, 2015).
Summary:	This paper explores the contribution of credit growth and the composition of credit portfolio (corporate, consumer, and housing credit) to economic growth in emerging market economies (EMs). Using cross-country panel regressions, we find significant impact of credit growth on real GDP growth, with the magnitude and transmission channel of the impact of credit on real activity depending on the specific type of credit. In particular, the results show that corporate credit shocks influence GDP growth mainly through investment, while consumer credit shocks are associated with private consumption. In addition, taking Brazil as a case study, we use a time series model to examine the role that the expansion and composition of credit played in driving real GDP growth in the past. The results of the case study are consistent with those found in the cross-country panel regressions. --Abstract.
Standard no.:	10.5089/9781513581927.001

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