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161223 ||| eng |
| 020 |
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|a 9781513581262
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| 100 |
1 |
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|a Igan, Deniz
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| 245 |
0 |
0 |
|a Capital Inflows, Credit Growth, and Financial Systems
|c Deniz Igan, Zhibo Tan
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2015
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| 300 |
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|a 31 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Credit
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| 653 |
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|a Consumer credit
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| 653 |
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|a Finance
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Monetary economics
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Exports and Imports
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| 653 |
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|a International economics
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| 653 |
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|a Money
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| 653 |
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|a Financial markets
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| 653 |
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|a Capital inflows
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| 653 |
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|a Money Supply
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| 653 |
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|a Financial Markets and the Macroeconomy
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| 653 |
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|a Financial services industry
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| 653 |
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|a Financial sector development
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| 653 |
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|a Capital movements
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| 653 |
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|a Credit booms
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| 653 |
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|a Money Multipliers
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a Finance: General
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| 653 |
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|a International Investment
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| 700 |
1 |
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|a Tan, Zhibo
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781513581262.001
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| 856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2015/193/001.2015.issue-193-en.xml?cid=43207-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a Exploiting a granular panel dataset that breaks down capital inflows into FDI, portfolio and other categories, and distinguishes between credit to the household sector and to the corporate sector, we investigate the association between capital inflows and credit growth. We find that non-FDI capital inflows boost credit growth and increase the likelihood of credit booms in both household and corporate sectors. For household credit growth, the composition of capital inflows appears to be more important than financial system characteristics. In contrast, for corporate credit growth, both the composition and the financial system matter. Regardless of sectors and financial systems, net other inflows are always linked to rapid credit growth. Firm-level data corroborate these findings and hint at a causal link: net other inflows are related to more rapid credit growth for firms that rely more heavily on external financing. Further explorations on how capital flows translate into more credit indicate that both demand and supply side factors play a role
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