Increasing Wealth and Increasing Instability: The Role of Collateral.

History repeats the same story about financial crises every few years. High growth in domestic credit almost always guarantee the outbreak of a crisis. In normal times, growth in credit is generally associated with faster long run growth, however, as financial intermediation improves the efficiency of channeling capital to productive investment. We present an endogenous growth model to reconcile the two seemingly contradictory stylized facts.

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Year of publication:	2001
Authors:	Leung, C.K.Y. ; Tse, C.Y.
Institutions:	Hoover Institution on War Revolution & Peace, Stanford University
Subject:	GROWTH RATE \| FINANCIAL ASPECTS \| ECONOMIC DEVELOPMENT

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Series:	Stanford - Hoover Institution.
Type of publication:	Book / Working Paper
Notes:	40 pages
Classification:	E32 - Business Fluctuations; Cycles ; O16 - Financial Markets; Saving and Capital Investment ; O41 - One, Two, and Multisector Growth Models ; O53 - Asia including Middle East
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005661198