Colombian paper draws policy lessons from credit- and business-cycle links
A working paper, published yesterday by the Central Bank of Colombia, studies the link between the business and credit cycles in Latin America, and finds that growth has a lagged response to credit.
The Interdependence between Credit and Real Business Cycles in Latin American Economies, by José Gómez-González, Jair Ojeda-Joya, Fernando Tenjo-Galarza and Héctor Manuel Zárate, focuses on the cases of Chile, Colombia and Peru, due to their economic integration with the rest of the world, which
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