Series: IMF Working Papers
Author(s): Abdul Abiad , Giovanni Dell'Ariccia , and Bin Li
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2011
Keywords: Credit cycles, credit crunch, financial dependence, banking, banking crises, recessions, recession, Financial Markets and the Macroeconomy,
Recoveries that occur in the absence of credit growth are often dubbed miracles and named after mythical creatures. Yet these are not rare animals, and are not always miracles. About one out of five recoveries is "...