| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8301 |
| DP8301 Creditless Recoveries | |
| Giovanni Dell'Ariccia; Abdul Abiad; Bin Grace Li | |
| 发表日期 | 2011-03-21 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet these are not rare animals, and are not always miracles. About one out of five recoveries is "creditless," and average growth during these episodes is about a third lower than during "normal" recoveries. Aggregate and sectoral data suggest that impaired financial intermediation is the culprit. Creditless recoveries are more common after banking crises and credit booms. Furthermore, sectors more dependent on external finance grow relatively less and more financially dependent activities (such as investment) are curtailed more during creditless recoveries. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Credit crunch Credit cycles Financial crises Financial dependence |
| URL | https://cepr.org/publications/dp8301 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537138 |
| 推荐引用方式 GB/T 7714 | Giovanni Dell'Ariccia,Abdul Abiad,Bin Grace Li. DP8301 Creditless Recoveries. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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