| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8249 |
| 来源ID | Working Paper 8249 |
| Lending Booms: Latin America and the World | |
| Pierre-Olivier Gourinchas; Rodrigo Valdes; Oscar Landerretche | |
| 发表日期 | 2001-04-01 |
| 出版年 | 2001 |
| 语种 | 英语 |
| 摘要 | Recent theories of crisis put lending booms at the root of financial collapses. Yet lending booms may be a natural consequence of economic development and fluctuations. So are lending booms dangerous? In this paper, we investigate empirically this question using a broad sample of lending boom episodes over 40 years, with a special eye for Latin America. Our results indicate that (1) lending booms are often associated with (i) a domestic investment boom; (ii) an increase in domestic interest rates; (iii) a worsening of the current account; (iv) a declines in reserves; (v) a real appreciation; (vi) a decline in output growth, (2) 'typical' lending booms do not increase substantially the vulnerability of the banking sector or the balance of payments. Comparing Latin America and the rest of the world, we find that Latin America lending booms make the economy considerably more volatile and vulnerable to financial and balance of payment crisis. |
| URL | https://www.nber.org/papers/w8249 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/565847 |
| 推荐引用方式 GB/T 7714 | Pierre-Olivier Gourinchas,Rodrigo Valdes,Oscar Landerretche. Lending Booms: Latin America and the World. 2001. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8249.pdf（505KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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