The great leveraging

Alan Taylor

No 398, BIS Working Papers from Bank for International Settlements

Abstract: What can history can tell us about the relationship between the banking system, financial crises, the global economy, and economic performance? Evidence shows that in the advanced economies we live in a world that is more financialized than ever before as measured by importance of credit in the economy. I term this long-run evolution "The Great Leveraging" and present a ten-point examination of its main contours and implications.

Keywords: financial development; credit; booms; crises; recessions; global imbalances; Great Recession; fiscal policy (search for similar items in EconPapers)
Pages: 52 pages
Date: 2012-12
New Economics Papers: this item is included in nep-ban and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (35)

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Related works:
Chapter: The Great Leveraging (2013)
Working Paper: The Great Leveraging (2012)
Working Paper: The Great Leveraging (2012)
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