Credit Growth in the Middle East, North Africa, and Central Asia Region

Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial ratio of private sector credit to GDP, price volatility, and...

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Bibliographic Details
Main Author: Crowley, Joe
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2008
Series:IMF Working Papers
Subjects:
Oil
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Saudi Arabia 
653 |a Finance, Public 
653 |a Consumer credit 
653 |a Credit 
653 |a Public-Private Enterprises 
653 |a Oil exports 
653 |a Oil 
653 |a Monetary economics 
653 |a Public Enterprises 
653 |a Investments: Energy 
653 |a Public sector 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a International economics 
653 |a Petroleum industry and trade 
653 |a Energy: General 
653 |a Exports 
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653 |a Macroeconomics 
653 |a Investment & securities 
653 |a Money and Monetary Policy 
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520 |a Rapid private sector credit growth in the Middle East, North Africa, and Central Asia has been a result of strong economic growth, financial deepening, and banks’ willingness to explore consumer credit markets. Economic growth, the initial ratio of private sector credit to GDP, price volatility, and nonoil exports are found to be significant explanatory variables, while oil exports and spillovers from oil exporting neighbors were not found to have any significance. The credit growth has financed consumer spending and home ownership rather than investment