Employing 3-Stage Least Squares (SLS) regression on the aggregate dataset of 120 countries from 2004 to 2017, this study is the first to investigate whether credit information sharing exerts impact on nonperforming loans of banking system and economic growth rate. First, our findings provide...

We consider whether government bonds, through the term structure, or corporate bonds, through the default yield, provide predictive power for output, consumption and investment growth. Such predictive power will allow policy-makers to use the information as a leading indicator for macroeconomic...

This paper applies both conventional panel data models and a dynamic simultaneous equations model to analyze the impact of fiscal austerity and growth prospects along with other macro fundamentals on the pricing of sovereign credit default swaps (CDS) for a panel of 36 countries including the...

The purpose of this paper is to study jointly the effects of consumer credit market and investment credit market on economic growth. We introduce consumer credit market in Schumpeterian framework. Under credit market imperfections, our model predict a negative effect of the development of...