Systemic crisis and growth revisited: has the global financial crisis marked a new era?
Zusammenfassung: Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support t...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Osnabrück
Institute of Empirical Economic Research, Osnabrück University
May 2018
|
| Schriftenreihe: | Beiträge des Instituts für Empirische Wirtschaftsforschung
No. 112 |
| Zusammenfassung: | Zusammenfassung: Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result anymore when updating the sample by one decade that includes the Global Financial Crisis, 2007/8. We analyze the time-varying nature of this relationship in rolling regressions and an historical dataset. In the subset of countries with enforceability problems, we find that the link between occasional crisis, measured by the negative skewness of credit growth, and per-capita output growth still remains intact. |
| Beschreibung: | 10 Blätter Diagramme |
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| spelling | Steinkamp, Sven 1985- Verfasser (DE-588)116257285X aut Systemic crisis and growth revisited has the global financial crisis marked a new era? Sven Steinkamp and Frank Westermann Osnabrück Institute of Empirical Economic Research, Osnabrück University May 2018 10 Blätter Diagramme txt rdacontent n rdamedia nc rdacarrier Beiträge des Instituts für Empirische Wirtschaftsforschung No. 112 Zusammenfassung: Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result anymore when updating the sample by one decade that includes the Global Financial Crisis, 2007/8. We analyze the time-varying nature of this relationship in rolling regressions and an historical dataset. In the subset of countries with enforceability problems, we find that the link between occasional crisis, measured by the negative skewness of credit growth, and per-capita output growth still remains intact. Westermann, Frank 1970- Verfasser (DE-588)128844604 aut Erscheint auch als Online-Ausgabe Systemic crisis and growth revisited Osnabrück, Germany : Institute of Empirical Economic Research, Osnabrück University, [2018] 1 Online-Ressource (10 Blätter) : Diagramme Beiträge des Instituts für Empirische Wirtschaftsforschung No. 112 (DE-604)BV012905782 112 |
| spellingShingle | Steinkamp, Sven 1985- Westermann, Frank 1970- Systemic crisis and growth revisited has the global financial crisis marked a new era? Beiträge des Instituts für Empirische Wirtschaftsforschung |
| title | Systemic crisis and growth revisited has the global financial crisis marked a new era? |
| title_auth | Systemic crisis and growth revisited has the global financial crisis marked a new era? |
| title_exact_search | Systemic crisis and growth revisited has the global financial crisis marked a new era? |
| title_full | Systemic crisis and growth revisited has the global financial crisis marked a new era? Sven Steinkamp and Frank Westermann |
| title_fullStr | Systemic crisis and growth revisited has the global financial crisis marked a new era? Sven Steinkamp and Frank Westermann |
| title_full_unstemmed | Systemic crisis and growth revisited has the global financial crisis marked a new era? Sven Steinkamp and Frank Westermann |
| title_short | Systemic crisis and growth revisited |
| title_sort | systemic crisis and growth revisited has the global financial crisis marked a new era |
| title_sub | has the global financial crisis marked a new era? |
| volume_link | (DE-604)BV012905782 |
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