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Effectiveness of macroprudential policies on credit surge and stop episodes

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dc.contributor.authorMehmet Fatih Ekinci
dc.contributor.authorUnay Tamgac Tezcan
dc.contributor.authorTuralay Kenc
dc.date.accessioned2024-07-30T02:47:51Z
dc.date.available2024-07-30T02:47:51Z
dc.date.issued2024
dc.description.abstractWhen faced with capital flow and credit growth waves in recent years, policymakers have relied upon macroprudential regulation. This paper sheds light on a relatively less-analyzed policy issue: how macroprudential regulatory measures mitigate extreme credit growth episodes. We use a dynamic panel data approach to estimate the impact of MaPPs on credit growth volatility and the likelihood of credit growth boom and bust episodes. We find that MaPPs reduce credit growth volatility in both advanced economies (AEs) and emerging market economies (EMEs). In addition, MaPPs help to prevent credit surges in EMEs and stops in AEs. Our results show that there is a strong link between net capital flows and credit growth stop episodes. Net capital flow surges trigger a credit surge for EMEs. This suggests that policymakers should consider both MaPPs and capital flow management measures when designing policies to mitigate the risks associated with these phenomena.en_US
dc.identifier.citationEkinci, M. F., Kenc, T., & Tezcan, U. T. (2024). Effectiveness of macroprudential policies on credit surge and stop episodes. Open Economies Review. https://doi.org/10.1007/s11079-023-09744-3en_US
dc.identifier.doihttps://doi.org/10.1007/s11079-023-09744-3
dc.identifier.issn1573-708X
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4078
dc.languageEnglish
dc.language.isoengen_US
dc.publisherSpringer Natureen_US
dc.rights2024. Springer Nature
dc.sourceSEDONA
dc.subjectEconomicsen_US
dc.subjectMacroprudential policyen_US
dc.subjectCapital flowsen_US
dc.subjectCredit surgesen_US
dc.subjectCredit stopsen_US
dc.titleEffectiveness of macroprudential policies on credit surge and stop episodesen_US
dc.typeJournal Articleen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicConventional financeen_US
ikr.topic.subtopicConventional financeen_US
relation.isAuthorOfPublication7bdf745e-8829-456f-9e4f-fcc43b78d818
relation.isAuthorOfPublication.latestForDiscovery7bdf745e-8829-456f-9e4f-fcc43b78d818
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