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