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Determinants of Bank Credit in Emerging Market Economies

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  • Vahram Stepanyan
  • Kai Guo
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Abstract

We examine changes in bank credit across a wide range of emerging market economies during the last decade. The rich time-series and cross-section information allows us to draw broader lessons compared to many existing researches, which focus on a specific set of emerging market economies or on shorter time periods. Our results show that domestic and foreign funding contribute positively and symmetrically to credit growth. The results also indicate that stronger economic growth leads to higher credit growth, and high inflation, while increasing nominal credit, is detrimental to real credit growth. We also find that loose monetary conditions, either domestic or global, result in more credit, and that the health of the banking sector also matters. Finally, we discuss some policy lessons.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/51.

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Length: 20
Date of creation: 01 Mar 2011
Date of revision:
Handle: RePEc:imf:imfwpa:11/51

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Related research

Keywords: Bank credit; Emerging markets; Banking sector; Credit expansion; Economic growth; pre-crisis; banking; post-crisis period; credit booms; post-crisis periods; financial crisis; country comparison; credit boom; bank for international settlements; financial deepening; bank lending; bank representatives; global financial crisis;

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References

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  1. Ralph Chami & Raphael A. Espinoza & Adolfo Barajas & Heiko Hesse, 2010. "Recent Credit Stagnation in the Mena Region," IMF Working Papers 10/219, International Monetary Fund.
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Citations

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Cited by:
  1. Sandra M. Leitner & Robert Stehrer, 2013. "R&D and Non-R&D Innovators in the Financial Crisis: the Role of Binding Credit Constraints," wiiw Working Papers 95, The Vienna Institute for International Economic Studies, wiiw.
  2. Wagner, Charlotte & Winkler, Adalbert, 2013. "The Vulnerability of Microfinance to Financial Turmoil – Evidence from the Global Financial Crisis," World Development, Elsevier, vol. 51(C), pages 71-90.
  3. Gozgor, Giray, 2014. "Determinants of domestic credit levels in emerging markets: The role of external factors," Emerging Markets Review, Elsevier, vol. 18(C), pages 1-18.
  4. Sophocles Vogiazas & Constantinos Alexiou, 2013. "Liquidity And The Business Cycle: Empirical Evidence From The Greek Banking Sector," Economic Annals, Faculty of Economics, University of Belgrade, vol. 58(199), pages 109-126, October -.
  5. Sandra Leitner & Robert Stehrer, 2012. "Access to Finance and Composition of Funding during the Crisis: A firm-level analysis for Latin American countries," wiiw Working Papers 78, The Vienna Institute for International Economic Studies, wiiw.
  6. Imran, Kashif & Nishat, Mohammed, 2013. "Determinants of bank credit in Pakistan: A supply side approach," Economic Modelling, Elsevier, vol. 35(C), pages 384-390.

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