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How much does the private sector really borrow - a new database for total credit to the private non-financial sector

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  • Christian Dembiermont
  • Mathias Drehmann
  • Siriporn Muksakunratana

Abstract

Despite their importance, data capturing total credit to the private non-financial sector are scarce. This article introduces a new BIS database that provides this information for 40 economies with, on average, more than 45 years of quarterly data, reaching back to the 1940s and 1950s in some cases. It explains the key concepts underlying the compilation of the new series, including a description of the high-level statistical criteria applied, the characteristics of the underlying series used and the statistical techniques employed. For illustration purposes, some facets of the historical evolution of total credit are explored, revealing interesting similarities and differences across countries.

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Bibliographic Info

Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2013)
Issue (Month): (March)
Pages:

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Handle: RePEc:bis:bisqtr:1303h

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  1. Levine, Ross & Zervos, Sara, 1996. "Stock markets, banks, and economic growth," Policy Research Working Paper Series 1690, The World Bank.
  2. Chow, Gregory C & Lin, An-loh, 1971. "Best Linear Unbiased Interpolation, Distribution, and Extrapolation of Time Series by Related Series," The Review of Economics and Statistics, MIT Press, vol. 53(4), pages 372-75, November.
  3. Stefan Avdjiev & Robert McCauley & Patrick McGuire, 2012. "Rapid credit growth and international credit: Challenges for Asia," BIS Working Papers 377, Bank for International Settlements.
  4. Patrick McGuire & Philip Wooldridge, 2005. "The BIS consolidated banking statistics: structure, uses and recent enhancements," BIS Quarterly Review, Bank for International Settlements, September.
  5. Victor Pontines & Reza Siregar, 2012. "Exchange Rate Appreciation, Capital Flows and Excess Liquidity: Adjustment and Effectiveness of Policy Responses," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp87, June.
  6. Raghuram G. Rajan & Luigi Zingales, . "Financial Dependence and Growth," CRSP working papers 344, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  7. Cussen, Mary & Phelan, Gillian, 2010. "Irish Households, Assessing the Impact of the Economic Crisis," Quarterly Bulletin Articles, Central Bank of Ireland, pages 62-76, October.
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Cited by:
  1. Mathias Drehmann, 2013. "Total credit as an early warning indicator for systemic banking crises," BIS Quarterly Review, Bank for International Settlements, June.
  2. Claudio Borio, 2013. "The Great Financial Crisis: setting priorities for new statistics," BIS Working Papers 408, Bank for International Settlements.
  3. Adam Gerls & Martina Jasova, 2012. "Measures to tame credit growth: are they effective?," Working Papers IES 2012/28, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2012.
  4. Ilhyock Shim & Bilyana Bogdanova & Jimmy Shek & Agne Subeltye, 2013. "Database for policy actions on housing markets," BIS Quarterly Review, Bank for International Settlements, September.
  5. Daniel Carvalho, 2014. "Financial Integration and the Great Leveraging," Working Papers w201407, Banco de Portugal, Economics and Research Department.
  6. Philippe Aghion & Enisse Kharroubi, 2013. "Cyclical macroeconomic policy, financial regulation and economic growth," BIS Working Papers 434, Bank for International Settlements.

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