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01803cas a2200241 a 4500 |
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|c 5.00 USD
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|z 9781475502930
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|a 1018-5941
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|c BD-DhAAL
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|a Pouvelle, Cyril.
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|a Bank Credit, Asset Prices and Financial Stability :
|b Evidence From French Banks /
|c Cyril Pouvelle.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (40 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data at a quarterly frequency, stock price growth is shown to have a significant effect on lending growth over the whole period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect during periods of financial instability only, even after controlling for credit demand effects. These results show that credit demand factors do play a large role but also provide evidence of tighter credit constraints on households in financial instability periods.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2012/103
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/103/001.2012.issue-103-en.xml
|z IMF e-Library
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