We study the relation between the credit cycle and macro-economic fundamentals in an intensity-based framework. Using … the credit cycle from the micro rating data. We relate this cycle to the business cycle, bank lending conditions, and … financial market variables. In line with earlier studies, these variables appear to explain part of the credit cycle. As our …

This paper aims to investigate the co-movement between the credit growth and gross domestic product (GDP) growth in … Turkey over the period January 2004–October 2019. By taking into account alternative credit decomposition and the variations … credit growth compared to other financial variables such as stock exchange, bonds, and exchange rate. ii) There is a high …