The credit market imperfections have important consequences for aggregate cycles, especially for developing countries. The research on the relationship between imperfections and output dynamics at the macro level are ample, but the lack of wide coverage micro data sets for developing countries...

The credit market imperfections have important consequences for aggregate cycles, especially for developing countries. The research on the relationship between imperfections and output dynamics at the macro level are ample, but the lack of wide coverage micro data sets for developing countries...

We will characterize the boom-bust cycles in Turkey and connect these to credit markets. There are lots of studies trying to explain the business cycles in developing countries with the help of Total Factor Productivity, incomplete markets, interest rates and borrowing constraints. Each one of...