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Corporate borrowing exuberance and credit cycles- some insights from an emerging economy, India

Saumitra Bhaduri and Ekta Selarka

Macroeconomics and Finance in Emerging Market Economies, 2021, vol. 14, issue 2, 180-199

Abstract: By developing a novel measure of corporate borrowing exuberance the study finds that such a phenomenon is not only higher but also is pro-cyclical with the periods of credit booms in the Indian economy. The study provides initial evidence on the quality of loans against the quantum of loans made available during credit growth cycles. Our research points towards using a unified framework to identify ex-ante misallocation in bank credit, which eventually appears as non-performing assets ex-post.

Date: 2021
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DOI: 10.1080/17520843.2020.1830822

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