| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17530 |
| 来源ID | Working Paper 17530 |
| Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute | |
| Joshua Aizenman; Brian Pinto; Vladyslav Sushko | |
| 发表日期 | 2011-10-20 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We examine how financial expansion and contraction cycles affect the broader economy through their impact on real economic sectors in a panel of countries over 1960-2005. Periods of accelerated growth of the financial sector are more likely to be followed by abrupt financial contractions than are periods of slower financial sector growth. Sharp fluctuations in the financial sector have strongly asymmetric effects, with the majority of real sectors adversely affected by contractions, but not helped by expansions. The adverse effects of financial contractions are transmitted almost exclusively through the financial openness channel, with precautionary foreign exchange reserve holdings serving as a key buffer. |
| 主题 | International Economics ; Trade ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w17530 |
| 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/575204 |
| 推荐引用方式 GB/T 7714 | Joshua Aizenman,Brian Pinto,Vladyslav Sushko. Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute. 2011. |
| 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 | ||
| w17530.pdf（646KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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