IMF: credit markets key to economic recovery
A paper by the IMF published in March shows that recoveries from recessions associated with a financial crisis tend to be sluggish because of a scarcity in available credit
Using industry-level data, the research examines the extent to which stressed credit conditions - situations where the cost of credit is unusually high or the availability is unusually restricted - dampen recovery in the aftermath of a financial crisis.
The paper presents evidence that stressed credit conditions are an
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