The Credit Crunch in East Asia: What Can Bank Excess Liquid Assets Tell Us?
November 2000 - A two-step approach is used to assess the extent to which the credit crunch in East Asia was supply- or demand-driven. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Agénor, Aizenman, and Hoffmaister...
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| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
1999
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| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | November 2000 - A two-step approach is used to assess the extent to which the credit crunch in East Asia was supply- or demand-driven. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Agénor, Aizenman, and Hoffmaister propose a two-step approach for assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step involves estimating a demand function for excess liquid assets held by commercial banks. The second step involves establishing dynamic projections for the periods after the crisis and assessing whether or not residuals are large enough to be viewed as indicators of an "involuntary" accumulation of excess reserves. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Thai firms (presumably small and medium-size ones) faced binding constraints in getting access to credit markets after the crisis. This paper-a product of the Economic Policy and Poverty Reduction Division, World Bank Institute-is part of a larger effort in the institute to understand the macroeconomic effects of credit market imperfections. Pierre-Richard Agénor may be contacted at pagenor@worldbank.org |
| Beschreibung: | 1 Online-Ressource (38 Seiten)) |
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| index_date | 2024-07-03T22:27:50Z |
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| institution | BVB |
| language | English |
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| spelling | Agénor, Pierre-Richard Verfasser aut The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? Agénor, Pierre-Richard Washington, D.C The World Bank 1999 1 Online-Ressource (38 Seiten)) txt rdacontent c rdamedia cr rdacarrier November 2000 - A two-step approach is used to assess the extent to which the credit crunch in East Asia was supply- or demand-driven. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Agénor, Aizenman, and Hoffmaister propose a two-step approach for assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step involves estimating a demand function for excess liquid assets held by commercial banks. The second step involves establishing dynamic projections for the periods after the crisis and assessing whether or not residuals are large enough to be viewed as indicators of an "involuntary" accumulation of excess reserves. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Thai firms (presumably small and medium-size ones) faced binding constraints in getting access to credit markets after the crisis. This paper-a product of the Economic Policy and Poverty Reduction Division, World Bank Institute-is part of a larger effort in the institute to understand the macroeconomic effects of credit market imperfections. Pierre-Richard Agénor may be contacted at pagenor@worldbank.org Online-Ausg Bank Cred Bank Lending Bank Loans Banks and Banking Reform Central Bank Commercial Banks Credit Rationing Currencies and Exchange Rates Debt Markets Demand For Cred Domestic Cred Finance Economic Theory and Research Emerging Markets Finance and Financial Sector Development Financial Intermediation Financial Literacy Fiscal Policies Future Interest Interest Rates Law and Development Liquid Assets Liquidity Macroeconomics and Economic Growth Monetary Fund Private Sector Development Profits Reserves Risk Of Default Settlement of Investment Disputes Working Capital Agénor, Pierre-Richard Sonstige oth Hoffmaister, Alexander Sonstige oth Aizenman, Joshua Sonstige oth Agénor, Pierre-Richard The Credit Crunch in East Asia http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2483 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Agénor, Pierre-Richard The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? Bank Cred Bank Lending Bank Loans Banks and Banking Reform Central Bank Commercial Banks Credit Rationing Currencies and Exchange Rates Debt Markets Demand For Cred Domestic Cred Finance Economic Theory and Research Emerging Markets Finance and Financial Sector Development Financial Intermediation Financial Literacy Fiscal Policies Future Interest Interest Rates Law and Development Liquid Assets Liquidity Macroeconomics and Economic Growth Monetary Fund Private Sector Development Profits Reserves Risk Of Default Settlement of Investment Disputes Working Capital |
| title | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? |
| title_auth | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? |
| title_exact_search | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? |
| title_exact_search_txtP | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? |
| title_full | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? Agénor, Pierre-Richard |
| title_fullStr | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? Agénor, Pierre-Richard |
| title_full_unstemmed | The Credit Crunch in East Asia What Can Bank Excess Liquid Assets Tell Us? Agénor, Pierre-Richard |
| title_short | The Credit Crunch in East Asia |
| title_sort | the credit crunch in east asia what can bank excess liquid assets tell us |
| title_sub | What Can Bank Excess Liquid Assets Tell Us? |
| topic | Bank Cred Bank Lending Bank Loans Banks and Banking Reform Central Bank Commercial Banks Credit Rationing Currencies and Exchange Rates Debt Markets Demand For Cred Domestic Cred Finance Economic Theory and Research Emerging Markets Finance and Financial Sector Development Financial Intermediation Financial Literacy Fiscal Policies Future Interest Interest Rates Law and Development Liquid Assets Liquidity Macroeconomics and Economic Growth Monetary Fund Private Sector Development Profits Reserves Risk Of Default Settlement of Investment Disputes Working Capital |
| topic_facet | Bank Cred Bank Lending Bank Loans Banks and Banking Reform Central Bank Commercial Banks Credit Rationing Currencies and Exchange Rates Debt Markets Demand For Cred Domestic Cred Finance Economic Theory and Research Emerging Markets Finance and Financial Sector Development Financial Intermediation Financial Literacy Fiscal Policies Future Interest Interest Rates Law and Development Liquid Assets Liquidity Macroeconomics and Economic Growth Monetary Fund Private Sector Development Profits Reserves Risk Of Default Settlement of Investment Disputes Working Capital |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2483 |
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