Italy after the crisis: a case of recoveryless credit growth
In this study I compare the credit condition with the economic growth in Italy from January 2007 onward. Starting from the literature on the creditless recovery, I highlight the specific features of the Italian situation in which, notwithstanding the prolonged and deep economic crisis, the credit has persistently continued to grow. A comparison with the German case confirms the peculiar characteristics of the Italian condition. An econometric study supports this idea and, in order to depict this Italian economic situation, I propose a new expression: the recoveryless credit growth.
|Date of creation:||Jan 2012|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alejandro Izquierdo & Ernesto Talvi & Guillermo A Calvo, 2006.
"Phoenix miracles in emerging markets: recovering without credit from systemic financial crises,"
BIS Working Papers
221, Bank for International Settlements.
- Guillermo A. Calvo & Alejandro Izquierdo & Ernesto Talvi, 2006. "Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises," Research Department Publications 4474, Inter-American Development Bank, Research Department.
- Guillermo A. Calvo & Alejandro Izquierdo & Ernesto Talvi, 2006. "Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises," NBER Working Papers 12101, National Bureau of Economic Research, Inc.
- Marco Terrones & M. Ayhan Kose & Stijn Claessens, 2008.
"What Happens During Recessions, Crunches and Busts?,"
IMF Working Papers
08/274, International Monetary Fund.
- Stijn Claessens & M. Ayhan Kose & Marco E. Terrones, 2009. "What happens during recessions, crunches and busts?," Economic Policy, CEPR;CES;MSH, vol. 24, pages 653-700, October.
- Claessens, Stijn & Kose, Ayhan & Terrones, Marco E, 2008. "What Happens During Recessions, Crunches and Busts?," CEPR Discussion Papers 7085, C.E.P.R. Discussion Papers.
- Kroszner, Randall S. & Laeven, Luc & Klingebiel, Daniela, 2007.
"Banking crises, financial dependence, and growth,"
Journal of Financial Economics,
Elsevier, vol. 84(1), pages 187-228, April.
- Demirguc-Kunt, Asli & Detragiache, Enrica & Gupta, Poonam, 2006.
"Inside the crisis: An empirical analysis of banking systems in distress,"
Journal of International Money and Finance,
Elsevier, vol. 25(5), pages 702-718, August.
- Poonam Gupta & Asli DemirgÃ¼Ã§-Kunt & Enrica Detragiache, 2000. "Inside the Crisis: An Empirical Analysis of Banking Systems in Distress," IMF Working Papers 00/156, International Monetary Fund.
- Demirguc-Kunt, Asli & Detragiache, Enrica & Gupta, Poonam, 2000. "Inside the crisis : an empirical analysis of banking systems in distress," Policy Research Working Paper Series 2431, The World Bank.
- Prakash Kannan, 2010. "Credit Conditions and Recoveries from Recessions Associated with Financial Crises," IMF Working Papers 10/83, International Monetary Fund.
- Abdul Abiad & Giovanni Dell'Ariccia & Grace Bin Li, 2011.
IMF Working Papers
11/58, International Monetary Fund.
- Giovanni Dell'Ariccia & Raghuram Rajan & Enrica Detragiache, 2005.
"The Real Effect of Banking Crises,"
IMF Working Papers
05/63, International Monetary Fund.
- Coricelli, Fabrizio & Roland, Isabelle, 2011. "How do credit conditions shape economic recoveries?," CEPR Discussion Papers 8325, C.E.P.R. Discussion Papers.
- Michael Biggs & Thomas Mayer & Andreas Pick, 2009. "Credit and economic recovery," DNB Working Papers 218, Netherlands Central Bank, Research Department.
- Bengt Holmstrom & Jean Tirole, 1997. "Financial Intermediation, Loanable Funds, and The Real Sector," The Quarterly Journal of Economics, Oxford University Press, vol. 112(3), pages 663-691.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:35775. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.