The Great Leveraging

Alan Taylor

No 18290, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: What can history 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.

JEL-codes: E3 E5 E6 N1 N2 (search for similar items in EconPapers)
Date: 2012-08
New Economics Papers: this item is included in nep-his, nep-mac and nep-opm
Note: DAE IFM ME
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Published as Taylor, A. M. “The Great Leveraging.” In The Social Value of the Financial Sector: Too Big to Fail or Just Too Big? edited by V. V. Acharya, T. Beck, D. D. Evanoff, G. G. Kaufman, and R. Portes. World Scientific Studies in International Economics, vol. 29. Hackensack, N.J.: World Scientific Publishing, 2014.

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Working Paper: The great leveraging (2012)
Working Paper: The Great Leveraging (2012)
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