Determinants of domestic credit levels in emerging markets: The role of external factors
作者: Giray Gozgor
作者单位: 1Dogus University, Department of International Trade and Business, Acibadem, Kadikoy, Istanbul 34722, Turkey
刊名: Emerging Markets Review, 2014, Vol.18 , pp.1-18
来源数据库: Elsevier Journal
DOI: 10.1016/j.ememar.2013.11.003
关键词: Emerging market economiesDomestic creditLoose monetary policyExternal balancePerception of global tail risk
原始语种摘要: Abstract(#br)This paper empirically examines the determinants of domestic credit expansion across a wide range of 24 emerging market economies. We use a dynamic panel data estimation technique to investigate the short-run and long-run effects of internal demand and external supply factors, external balance, different measures of trade openness and global uncertainty on domestic credit. We find that loose monetary policy in the domestic market, differences between domestic and global lending rates and real trade openness positively contribute to domestic credit levels. The findings also show that external balance and perceptions of global tail risk negatively affect domestic credit levels.
全文获取路径: Elsevier  (合作)
影响因子:1.167 (2012)

  • credit 信用
  • domestic 国产的
  • external 外部的
  • emerging 浮起
  • monetary 金融
  • openness 开放
  • market 市场
  • trade 买卖
  • uncertainty 不定
  • global 球状的