The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

Using Credit Subsidies to Counteract a Credit Bust: Evidence from Serbia

Using Credit Subsidies to Counteract a Credit Bust: Evidence from Serbia by Jiri Podpiera
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
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 respond to boom-bust credit cycles remains unsettled, it has been conjectured that credit subsidies may provide a particularly effective policy tool to counter a credit bust. This paper reports on a rare policy experiment where credit subsidies were used to buffer the impact of the global financial crisis on Serbia in 2009. Model simulations suggest that credit subsidies in Serbia helped to mitigate the slump in output.
International Monetary Fund; December 2011
21 pages; ISBN 9781463992781
Read online, or download in secure EPUB or secure PDF format
Title: Using Credit Subsidies to Counteract a Credit Bust: Evidence from Serbia
Author: Jiri Podpiera