total credit share in the GDP. Previous empirical studies show to be sensitive to the choice of the finance proxy indicator …. Total credit share in the GDP appears biased in empirical modeling. Credit structure (loans to firms and households) prove … to be more robust when used in the modeling. Credit structure reveals a different impact on economic growth showing …

We document a major mechanism – inorganic growth – which drives a wedge between micro-study effects of credit supply … shocks and aggregate effects. Exploiting a quasi-exogenous positive shock to credit supply, we document that affected firms …, and the quality of the credit-supply-induced acquisition activity is low. The market for inorganic growth is large …

of growth induced by financial deepening from crises induced by credit booms. Cross-country panel regressions with five …

Banking credit to the private sector in Latin America has on average increased by 7 percent of GDP from primo 2004 to … ultimo 2011, with real credit in some countries growing by up to 20 percent per year. This paper documents and analyzes the … patterns of credit growth in 18 countries in Latin America and uses econometric methods to determine whether it is indicative …