Format:
1 Online-Ressource (circa 66 Seiten)
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ISBN:
9781484385654
Series Statement:
IMF working paper WP/18, 267
Content:
Combining balance sheet data on 900,000 firms from 48 countries with information on the adoption of macroprudential policies during 2003-2011, we find that these policies are associated with lower credit growth. These effects are especially significant for micro, small and medium enterprises (MSMEs) and young firms that, according to the literature, are more financially constrained and bank dependent. Among MSMEs and young firms, those with weaker balance sheets exhibit lower credit growth in conjunction with the adoption of macroprudential policies, suggesting that these policies can enhance financial stability. Finally, our results show that macroprudential policies have real effects, as they are associated with lower investment and sales growth
Additional Edition:
Erscheint auch als Druck-Ausgabe Ayyagari, Meghana The Micro Impact of Macroprudential Policies: Firm-Level Evidence Washington, D.C. : International Monetary Fund, 2018 ISBN 9781484385654
Language:
English
Keywords:
Graue Literatur
DOI:
10.5089/9781484385654.001
URL:
Volltext
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URL:
Volltext
(kostenfrei)
Author information:
Beck, Thorsten 1967-
Author information:
Martínez Pería, María Soledad 1970-
