Series: IMF Working Papers
Author(s): Fei Han , and Selim Elekdag
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2012
Keywords: rapid credit growth, emerging Asia, SVAR, Bayesian estimation, sign restrictions, aggregate demand, domestic monetary policy, inflation, financial stability, What Drives Credit Growth in Emerging Asia?
This paper seeks to uncover the main drivers of credit growth in emerging Asia using a multi-country structural vector autoregressive (SVAR) model. Taking a novel approach, we developed a two-block SVAR whereby sho...