Furceri, Davide; Guichard, Stéphanie; Rusticelli, Elena - In: The North American Journal of Economics and Finance 23 (2012) 3, pp. 325-344
This paper analyses the effect of capital inflow surges on the evolution of domestic credit. Using a panel of developed and emerging economies from 1970 to 2007, it is shown that in the two years following the beginning of a capital inflow surge the credit-to-GDP ratio increases by about 2...
