1 option
Credit Reversals / Francisco Vazquez.
- Format:
- Book
- Government document
- Author/Creator:
- Vazquez, Francisco.
- Series:
- IMF Working Papers; Working Paper ; No. 2021/103
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (34 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2021.
- Summary:
- This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity—credit reversals. Using data for 179 countries during 1960‒2017, the paper finds that reversals are a relatively common phenomenon--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals and banking crises also appear related to each other: reversals become more likely in the aftermath of banking crises, while the likelihood of crises drops following reversals. In terms of foregone economic activity, reversals are shown to be very costly, at about two-thirds of the costs of banking crises after taking into account their relative frequencies.
- Notes:
- Description based on print version record.
- ISBN:
- 9781513586786
- 1513586785
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.