Series: IMF Working Papers
Author(s): Jiri Podpiera
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2011
Keywords: Credit Subsidy, Financial Accelerator, Countercyclical Policy, subsidies, subsidy, financial sector
Emerging markets are particularly vulnerable to boom-bust credit cycles, due to excessive capital flows, shallow equity markets, and companies' high leverage and open FX positions. While the policy debate on how to...