Article ID Journal Published Year Pages File Type
965531 Journal of Macroeconomics 2012 15 Pages PDF
Abstract
► We examine links between banks, stock markets, and real activity for four East Asian economies. ► The study uses quarterly data from 1995 to 2010, covering two financial crises. ► VAR and VECM models show that credit buildups can negatively affect real activity. ► Stock markets may absorb credit buildups and avoid a “saturation” of credit. ► Well functioning stock markets promoted growth in these economies.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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