We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic … relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits …. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also …

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid … expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house …

We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic … relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits …. Micro data show a strong association between credit booms and leverage ratios, firm values, and banking fragility. We also …

Periods of banking distress are often followed by sizable and long-lasting contractions in bank credit. They may be … capital-constrained banks, a ""credit crunch"". This paper develops a bank model to study credit crunches and their real … disruptions in the supply of credit when hit by small shocks. However, for larger shocks, highly persistent credit cr …

-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence …This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank … credit booms supervisors need to carefully monitor the soundness of rapidly expanding banks and stand ready to take ac …

, sovereign spreads, and credit growth. This paper also shows that during this crisis, pre-crisis reserve holdings helped to …This paper examines the impact of the recent global crisis on emerging market economies (EMs). Our cross …-country analysis shows that the impact of the crisis was more pronounced in those EMs that had initial weaker fundamentals and greater …

sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by …

growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the …The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic …

debt restructuring is an important step toward recovery from a financial crisis. We then discuss the rationale for, and …