Bank Credit, Asset Prices and Financial Stability: Evidence From French Banks
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data at a quarterly frequency, stock price growth is shown to h...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2012
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Schriftenreihe: | IMF Working Papers
Working Paper No. 12/103 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data at a quarterly frequency, stock price growth is shown to have a significant effect on lending growth over the whole period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect during periods of financial instability only, even after controlling for credit demand effects. These results show that credit demand factors do play a large role but also provide evidence of tighter credit constraints on households in financial instability periods |
Beschreibung: | 1 Online-Ressource (40 p) |
ISBN: | 1475502931 9781475502930 |
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spelling | Pouvelle, Cyril Verfasser aut Bank Credit, Asset Prices and Financial Stability Evidence From French Banks Pouvelle, Cyril Washington, D.C International Monetary Fund 2012 1 Online-Ressource (40 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 12/103 This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and supply factors, both for the whole 1993-2010 period and during periods of financial instability. Using bank-level panel data at a quarterly frequency, stock price growth is shown to have a significant effect on lending growth over the whole period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect during periods of financial instability only, even after controlling for credit demand effects. These results show that credit demand factors do play a large role but also provide evidence of tighter credit constraints on households in financial instability periods Online-Ausg http://elibrary.imf.org/view/IMF001/12769-9781475502930/12769-9781475502930/12769-9781475502930.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Pouvelle, Cyril Bank Credit, Asset Prices and Financial Stability Evidence From French Banks |
title | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks |
title_auth | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks |
title_exact_search | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks |
title_exact_search_txtP | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks |
title_full | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks Pouvelle, Cyril |
title_fullStr | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks Pouvelle, Cyril |
title_full_unstemmed | Bank Credit, Asset Prices and Financial Stability Evidence From French Banks Pouvelle, Cyril |
title_short | Bank Credit, Asset Prices and Financial Stability |
title_sort | bank credit asset prices and financial stability evidence from french banks |
title_sub | Evidence From French Banks |
url | http://elibrary.imf.org/view/IMF001/12769-9781475502930/12769-9781475502930/12769-9781475502930.xml |
work_keys_str_mv | AT pouvellecyril bankcreditassetpricesandfinancialstabilityevidencefromfrenchbanks |