Recent episodes of strong growth in banks' credit to the private sector have been accompanied by large appreciations of … rate differentials, real exchange rate levels and private sector credit growth, through dynamic panel data techniques. …

, even though a considerable slowdown in bank lending has been recorded, there has not been a credit crunch. After a first … credit increases as real added value increases and decreases as the cost of lending and self-financing increase. The dynamic … relationships estimated before the crisis. This delta (which can be defined as “extra-credit”) is interpreted as the outcome of a …

assess both credit-worthiness of a potential borrower and the merits of the proposition to be financed. In recent years …, banks have increasingly used credit-scoring techniques to evaluate the loan applications they receive from consumers. Credit … models outperform the other credit scoring models. …