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What is Financial Liberalizations, Booms, and Crashes about?
This paper examines the effects of financial liberalization on credit markets and economic growth, highlighting that liberalizations which directly relax credit supply constraints can lead to significant short-term credit expansions and GDP growth, but also increase the risk of financial crises and negative growth outcomes in the medium term. The authors construct a new cross-country database of banking regulations for 18 advanced economies since World War II, demonstrating that such liberalizations are ass
- Author
- akunakunaplikasi88
- Language
- EN