Credit Cyclicality in Chile : A Cross-Country Analysis /

This paper analyzes the determinants of credit cyclicality. It constructs a financial development index and studies whether it affects the amplitude of impulse responses to shocks to output, terms of trade, global liquidity, and global risk appetite. The paper uses both country-specific VARs for cro...

詳細記述

書誌詳細
第一著者: Soderling, Ludvig
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 2008.
シリーズ:IMF Working Papers; Working Paper ; No. 2008/055
オンライン・アクセス:Full text available on IMF
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245 1 0 |a Credit Cyclicality in Chile :   |b A Cross-Country Analysis /  |c Ludvig Soderling. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2008. 
300 |a 1 online resource (21 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper analyzes the determinants of credit cyclicality. It constructs a financial development index and studies whether it affects the amplitude of impulse responses to shocks to output, terms of trade, global liquidity, and global risk appetite. The paper uses both country-specific VARs for cross-country analyses and panel VARs to compare impulse responses between various country groupings. The study finds evidence that financial development-especially stronger creditor rights-can mitigate credit cyclicality, given that the response of credit to output or terms of trade shocks is stronger in countries with weaker financial systems. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/055 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2008/055/001.2008.issue-055-en.xml  |z IMF e-Library