Description |
1 online resource (37 pages) : illustrations |
Series |
IMF working paper ; WP/00/68 |
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IMF working paper ; WP/00/68.
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Summary |
Banks have recently played a prominent role in the unfolding of business cycles in emerging markets. In the early 1990s, brisk economic growth and exchange rate stability in most of Asia and Latin America were associated with unparalelled credit bonanza, declining intermediation spreads, and a large build-up of bank debt. Conversely, as the large devaluations and interest rate shocks of end-1994/early 1995 in Latin America and of 1997-98 in Asia eroded banks' deposit base and led to a sharp rise in non-performing loans, domestic credit came to a halt, helping intensify and prolong the recession well beyond what appeared to be warranted by the initial monetary tightening2 In both occasions, the ensuing output losses and bank solvency problems in the countries affected proved to be far more severe than those observed during previous financial crises in industrial economies. 3 |
Bibliography |
Includes bibliographical references (pages 29-31) |
Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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English |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
Subject |
Bank loans -- Developing countries -- Econometric models
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Financial crises -- Developing countries -- Econometric models
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Interest rates -- Developing countries -- Econometric models
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Bank loans -- Econometric models
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Financial crises -- Econometric models
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Interest rates -- Econometric models
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Developing countries
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Form |
Electronic book
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Author |
Rodríguez, Sergio L., author.
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International Monetary Fund. Research Department, issuing body.
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ISBN |
145189550X |
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9781451895506 |
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1281345474 |
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9781281345479 |
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1462338909 |
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9781462338900 |
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1452790620 |
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9781452790626 |
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9786613779045 |
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6613779040 |
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9781451848984 |
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1451848986 |
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