European credit growth strongly related to net debt inflows, ECB paper finds
Domestic credit growth in European countries is strongly related to net debt inflows but not to net equity inflows, with a similar pattern holding for an extended sample of 54 advanced and emerging economies, a recent ECB research paper finds.
The paper - Domestic Credit Growth and International Capital Flows - by Philip Lane and Peter McQuade, investigates the relationship between domestic credit growth and international capital flows between 1993 and 2008, with a special focus on the boom
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