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Credit Growth in the Middle East, North Africa, and Central Asia Region

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  • Joe Crowley

Abstract

Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial ratio of private sector credit to GDP, price volatility, and nonoil exports are found to be significant explanatory variables, while oil exports and spillovers from oil exporting neighbors were not found to have any significance. The credit growth has financed consumer spending and home ownership rather than investment.

Suggested Citation

  • Joe Crowley, 2008. "Credit Growth in the Middle East, North Africa, and Central Asia Region," IMF Working Papers 08/184, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:08/184
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    Cited by:

    1. Bitar, Mohammad & Saad, Wadad & Benlemlih, Mohammed, 2016. "Bank risk and performance in the MENA region: The importance of capital requirements," Economic Systems, Elsevier, vol. 40(3), pages 398-421.
    2. Neelam Timsina, 2014. "Impact of Bank Credit on Economic Growth in Nepal," NRB Working Paper 22/2014, Nepal Rastra Bank, Research Department.
    3. May Y Khamis & Abdullah Al-Hassan & Nada Oulidi, 2010. "The GCC Banking Sector; Topography and Analysis," IMF Working Papers 10/87, International Monetary Fund.
    4. International Monetary Fund, 2013. "Haiti; 2012 Article IV Consultation and Fifth Review Under the Extended Credit Facility," IMF Staff Country Reports 13/90, International Monetary Fund.
    5. Kalyuzhnova, Yelena & Nygaard, Christian, 2009. "Resource nationalism and credit growth in FSU countries," Energy Policy, Elsevier, vol. 37(11), pages 4700-4710, November.
    6. Torsten Wezel & Mario Mansilla & Gustavo Adler, 2009. "Modernizing Bank Regulation in Support of Financial Deepening; The Case of Uruguay," IMF Working Papers 09/199, International Monetary Fund.
    7. Neelam Timsina, 2014. "Bank Credit and Economic Growth in Nepal: An Empirical Analysis," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 26(2), pages 1-24, October.
    8. Neelam Timsina, 2015. "Impact of Bank Credit on Economic Growth in Nepal," Working Papers id:7271, eSocialSciences.
    9. Koong, Seow Shin & Law, Siong Hook & Ibrahim, Mansor H., 2017. "Credit expansion and financial stability in Malaysia," Economic Modelling, Elsevier, vol. 61(C), pages 339-350.
    10. repec:khe:scajes:v:3:y:2017:i:4:p:19-23 is not listed on IDEAS

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