Hidden Bibliographic Details
| Varying Form of Title: | Anatomy of Credit Booms: Evidence From Macro Aggregates and Micro Data, An
IMF Working Papers
An Anatomy of Credit Booms
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| Other authors / contributors: | Mendoza, Enrique G, Contributor.
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| ISBN: | 1451915373
9781451915372
9781451870848
1451870841
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| Notes: | English.
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| Summary: | 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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