Credit growth has had significant impact on EM growth, IMF paper says
IMF paper explores relationship in 31 emerging markets over past decade
Credit expansion and the composition of credit growth has had a "significant" impact on economic growth in emerging markets in the past decade, a working paper published by the International Monetary Fund has found.
Credit expansion in emerging markets: propeller of growth? by Mercedes Garcia-Escribano and Fei Han use cross-country panel regressions to look at the effect of both factors on real GDP on a sample of 31 countries.
"The results show that corporate credit shocks influence GDP growth
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