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 …

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 …

recent crisis in Argentina. Experience suggests that there is no quick or easy fix in the face of a wide-ranging crisis … important implications for the IMF’s work in assessing crisis vulnerabilities. IMF surveillance work has been strengthened and …

In this paper a simple optimizing model is developed to analyze the implications of a banking crisis. Banks are …