The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us?
The authors propose a two-step approach for assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step involves estimating a demand function for excess liquid...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2000/11/717461/credit-crunch-east-asia-can-bank-excess-liquid-assets-tell http://hdl.handle.net/10986/19759 |
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okr-10986-197592021-04-23T14:03:44Z The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? Agenor, Pierre-Richard Aizenman, Joshua Hoffmaister, Alexander AGGREGATE DEMAND ASSETS AUTOREGRESSION BALANCE SHEET BANK CREDIT BANK DEPOSITS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK LOANS BANK OF THAILAND BANKING SYSTEM BENCHMARK BONDS BOOK VALUE BORROWING CAPITAL MARKETS CENTRAL BANK COMMERCIAL BANKS CONCEPTUAL FRAMEWORK CONTAGION CORPORATE GOVERNANCE CREDIT MARKETS CREDIT RATIONING DEBT DEVALUATION DISCOUNT RATE ECONOMIC RESEARCH ECONOMIC TIME SERIES ECONOMICS ECONOMISTS ELASTICITIES ELASTICITY ELASTICITY OF SUPPLY EMERGING MARKET ECONOMIES EQUILIBRIUM EXCESS LIQUIDITY EXCHANGE RATE EXPECTED VALUE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FISCAL POLICIES FORECASTS ILLIQUIDITY INCOME INFLATION INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL MONETARY FUND LENDING RATES LIQUID ASSETS LIQUIDITY LIQUIDITY COSTS The authors propose a two-step approach for assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step involves estimating a demand function for excess liquid assets held by commercial banks. The second step involves establishing dynamic projections for the periods after the crisis and assessing whether or not residuals are large enough to be viewed as indicators of an "involuntary" accumulation of excess reserves. The results for Thailand suggest that the contraction in bank lending that accompanied the crisis was the result of supply factors. Thai firms (presumably small and medium-size ones) faced binding constraints in getting access to credit markets after the crisis. 2014-08-27T17:10:53Z 2014-08-27T17:10:53Z 2000-11 http://documents.worldbank.org/curated/en/2000/11/717461/credit-crunch-east-asia-can-bank-excess-liquid-assets-tell http://hdl.handle.net/10986/19759 English en_US Policy Research Working Paper;No. 2483 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research East Asia and Pacific |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AGGREGATE DEMAND ASSETS AUTOREGRESSION BALANCE SHEET BANK CREDIT BANK DEPOSITS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK LOANS BANK OF THAILAND BANKING SYSTEM BENCHMARK BONDS BOOK VALUE BORROWING CAPITAL MARKETS CENTRAL BANK COMMERCIAL BANKS CONCEPTUAL FRAMEWORK CONTAGION CORPORATE GOVERNANCE CREDIT MARKETS CREDIT RATIONING DEBT DEVALUATION DISCOUNT RATE ECONOMIC RESEARCH ECONOMIC TIME SERIES ECONOMICS ECONOMISTS ELASTICITIES ELASTICITY ELASTICITY OF SUPPLY EMERGING MARKET ECONOMIES EQUILIBRIUM EXCESS LIQUIDITY EXCHANGE RATE EXPECTED VALUE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FISCAL POLICIES FORECASTS ILLIQUIDITY INCOME INFLATION INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL MONETARY FUND LENDING RATES LIQUID ASSETS LIQUIDITY LIQUIDITY COSTS |
| spellingShingle |
AGGREGATE DEMAND ASSETS AUTOREGRESSION BALANCE SHEET BANK CREDIT BANK DEPOSITS BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK LOANS BANK OF THAILAND BANKING SYSTEM BENCHMARK BONDS BOOK VALUE BORROWING CAPITAL MARKETS CENTRAL BANK COMMERCIAL BANKS CONCEPTUAL FRAMEWORK CONTAGION CORPORATE GOVERNANCE CREDIT MARKETS CREDIT RATIONING DEBT DEVALUATION DISCOUNT RATE ECONOMIC RESEARCH ECONOMIC TIME SERIES ECONOMICS ECONOMISTS ELASTICITIES ELASTICITY ELASTICITY OF SUPPLY EMERGING MARKET ECONOMIES EQUILIBRIUM EXCESS LIQUIDITY EXCHANGE RATE EXPECTED VALUE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL REFORM FINANCIAL SECTOR FISCAL POLICIES FORECASTS ILLIQUIDITY INCOME INFLATION INTEREST RATE INTEREST RATES INTERNATIONAL FINANCIAL STATISTICS INTERNATIONAL MONETARY FUND LENDING RATES LIQUID ASSETS LIQUIDITY LIQUIDITY COSTS Agenor, Pierre-Richard Aizenman, Joshua Hoffmaister, Alexander The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| geographic_facet |
East Asia and Pacific |
| relation |
Policy Research Working Paper;No. 2483 |
| description |
The authors propose a two-step approach
for assessing the extent to which the fall in credit in
crisis-stricken East Asian countries was a supply- or
demand-induced phenomenon. The first step involves
estimating a demand function for excess liquid assets held
by commercial banks. The second step involves establishing
dynamic projections for the periods after the crisis and
assessing whether or not residuals are large enough to be
viewed as indicators of an "involuntary"
accumulation of excess reserves. The results for Thailand
suggest that the contraction in bank lending that
accompanied the crisis was the result of supply factors.
Thai firms (presumably small and medium-size ones) faced
binding constraints in getting access to credit markets
after the crisis. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Agenor, Pierre-Richard Aizenman, Joshua Hoffmaister, Alexander |
| author_facet |
Agenor, Pierre-Richard Aizenman, Joshua Hoffmaister, Alexander |
| author_sort |
Agenor, Pierre-Richard |
| title |
The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| title_short |
The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| title_full |
The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| title_fullStr |
The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| title_full_unstemmed |
The Credit Crunch in East Asia : What Can Bank Excess Liquid Assets Tell Us? |
| title_sort |
credit crunch in east asia : what can bank excess liquid assets tell us? |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2000/11/717461/credit-crunch-east-asia-can-bank-excess-liquid-assets-tell http://hdl.handle.net/10986/19759 |
| _version_ |
1764440565705867264 |