Banking and Finance
Santiago Herrera, Christophe Hurlin, Chahir Zaki , The World Bank , 2012
This paper explains the decrease based on credit supply and demand considerations by 1) presenting stylized facts regarding the evolution of the banks’ sources and fund use in 2005 to 2011, noting two different cycles of external capital flows, and 2) estimating private credit supply and demand equations using quarterly data from 1998 to 2011.
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