Credit Conditions and Recoveries from Recessions Associated with Financial Crises

Credit Conditions and Recoveries from Recessions Associated with Financial Crises
Recoveries from recessions associated with a financial crisis tend to be sluggish. In this paper, we present evidence that stressed credit conditions are an important factor constraining the pace of recovery. In particular, using industry-level data, we find that industries relying more on external finance grow more slowly than other industries... READ MORE...

Publication date: March 2010
ISBN 9781451982657
$18.00

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