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Credit Market Imperfections in Middle Income Countries / Aaron Tornell, Frank Westermann.
- Format:
- Book
- Author/Creator:
- Tornell, Aaron.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w9737.
- NBER working paper series no. w9737
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2003.
- Summary:
- In this paper we document three credit market imperfections prevalent in middle income countries that can help explain the boom-bust cycles as well as other macroeconomic patterns observed at higher frequencies across these countries. These imperfections are: the existence of financing constraints that affect mainly the nontradables sector, currency mismatch and systemic bailout guarantees.
- Notes:
- Print version record
- June 2003.
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