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We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt …
Persistent link: https://www.econbiz.de/10013086310
-specific time-varying measure of credit supply. The contraction in credit supply explains one fourth of the reduction in employment …
Persistent link: https://www.econbiz.de/10012960568
Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase …
Persistent link: https://www.econbiz.de/10012977762
currency and reduce net exports. Emerging market policy makers however believe that inflows lead to credit booms and rising …
Persistent link: https://www.econbiz.de/10013002152
This paper analyses the effect of asset prices on credit growth in France and tries to disentangle credit demand and … period, but without credit supply factors being singled out. By contrast, housing price growth has a significant effect … during periods of financial instability only, even after controlling for credit demand effects. These results show that …
Persistent link: https://www.econbiz.de/10013101520
We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel originating from changes in the costs of external borrowing and (ii) a real options...
Persistent link: https://www.econbiz.de/10012998802
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region's markets are reputed to be more “idiosyncratic” and less reliant on economic and corporate fundamentals in their...
Persistent link: https://www.econbiz.de/10013056805
improved credit appraisals and stricter impairment standards on the bank side, will be critical to help India's banks resume …
Persistent link: https://www.econbiz.de/10013028673
A push-pull-brake model of capital flows is used to study the effects of fiscal policy changes on private capital flows to emerging Europe during 2000-07. In the model, countercyclical fiscal policy has two opposing effects on capital inflows: (i) a conventional absorption-reducing effect, as a...
Persistent link: https://www.econbiz.de/10013098584
Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...
Persistent link: https://www.econbiz.de/10013098620