Financial Development, Financial Fragility, and Growth:
This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit and...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
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Schriftenreihe: | IMF Working Papers
Working Paper No. 05/170 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit and liquid liabilities. On the other hand, the banking and currency crisis literature finds that monetary aggregates, such as domestic credit, are among the best predictors of crises and their related economic downturns. This paper accounts for these contrasting effects based on the distinction between the short- and long-run effects of financial intermediation |
Beschreibung: | 1 Online-Ressource (32 p) |
ISBN: | 1451861893 9781451861891 |
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spelling | Loayza, Norman Verfasser aut Financial Development, Financial Fragility, and Growth Loayza, Norman Washington, D.C International Monetary Fund 2005 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/170 This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit and liquid liabilities. On the other hand, the banking and currency crisis literature finds that monetary aggregates, such as domestic credit, are among the best predictors of crises and their related economic downturns. This paper accounts for these contrasting effects based on the distinction between the short- and long-run effects of financial intermediation Online-Ausg Ranciere, Romain Sonstige oth http://elibrary.imf.org/view/IMF001/02337-9781451861891/02337-9781451861891/02337-9781451861891.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Loayza, Norman Financial Development, Financial Fragility, and Growth |
title | Financial Development, Financial Fragility, and Growth |
title_auth | Financial Development, Financial Fragility, and Growth |
title_exact_search | Financial Development, Financial Fragility, and Growth |
title_exact_search_txtP | Financial Development, Financial Fragility, and Growth |
title_full | Financial Development, Financial Fragility, and Growth Loayza, Norman |
title_fullStr | Financial Development, Financial Fragility, and Growth Loayza, Norman |
title_full_unstemmed | Financial Development, Financial Fragility, and Growth Loayza, Norman |
title_short | Financial Development, Financial Fragility, and Growth |
title_sort | financial development financial fragility and growth |
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