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|z 9781484356869
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|a 1018-5941
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|c BD-DhAAL
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|a Arena, Marco.
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|a Credit Booms and Macroeconomic Dynamics :
|b Stylized Facts and Lessons for Low-Income Countries /
|c Marco Arena, Serpil Bouza, Era Dabla-Norris, Kerstin Gerling.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (47 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 Using a comprehensive database on bank credit, covering 135 developing countries over the period 1960-2011, we identify, document, and compare the macro-economic dynamics of credit booms across low- and middle-income countries. The results suggest that while the duration and magnitude of credit booms is similar across country groups, macro-economic dynamics differ somewhat in low-income countries. We further find that surges in capital inflows are associated with credit booms. Moreover, credit booms associated with banking crises exhibit distinct macroeconomic dynamics, while also reflecting a potentially large deviation of credit from country fundamentals. These results suggest that low-income countries should remain mindful of the inter-linkages between financial liberalization, increased cross-border banking activities, and rapid credit growth.
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|a Mode of access: Internet
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|a Bouza, Serpil.
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|a Dabla-Norris, Era.
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|a Gerling, Kerstin.
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|a IMF Working Papers; Working Paper ;
|v No. 2015/011
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2015/011/001.2015.issue-011-en.xml
|z IMF e-Library
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