Financial systems and the real economy

Bank for International Settlements

No 91 in BIS Papers from Bank for International Settlements

Abstract: The great financial crisis of 2007-08 and the recession have generated active debate on the role of financial systems on the real economy. In particular, central banks have shown increased interest in how financial systems can evolve to maximise their contribution to the real economy. Many Asia-Pacific economies have also experienced a rapid growth in household debt since the crisis. Against this background, Bank Negara Malaysia and the Bank for International Settlements (BIS) co-hosted a research conference on "Financial systems and the real economy" on 16-18 October 2016 in Kuala Lumpur. The event was the wrap-up conference of a research programme of the BIS Representative Office for Asia and the Pacific that had been approved by the Asian Consultative Council of central bank Governors in February 2015. The conference brought together senior officials and researchers from central banks, international organisations and academia. Papers presented at the conference covered macroprudential policies and firm financing; household credit, growth and inequality; capital structure in emerging Asia; foreign banks and credit conditions in emerging market economies; household credit and the effectiveness of monetary and macroprudential policies in Asia-Pacific; and household indebtedness and debt repayment capacity. This volume is a collection of the speeches, papers and prepared discussant remarks and panel remarks from the conference.

JEL-codes: E21 E44 E51 E58 F34 G21 G28 G32 (search for similar items in EconPapers)
Date: 2017 Written 2017-03
ISBN: ISBN 978-92-9259-045-1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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http://www.bis.org/publ/bppdf/bispap91.pdf Full PDF document (application/pdf)
http://www.bis.org/publ/bppdf/bispap91.htm (text/html)

Chapters in this book:

Foreword , pp iii-vi

Ilhyock Shim

Opening remarks , pp 1-3

Abdul Rasheed Ghaffour

What is macroprudential policy for? Making it safe for central bankers , pp 5-14

Paul Tucker

Credit growth and macroprudential policies: preliminary evidence on the firm level , pp 15-34

Meghana Ayyagari, Thorsten Beck and Maria Martinez Peria

Comments on “Credit growth and macroprudential policies: preliminary evidence on the firm level” , pp 35-38

Jae-Ha Park

Household credit, growth and inequality in Malaysia: does the type of credit matter? , pp 39-59

Jiaming Soh, Amanda Chong and Kue-Peng Chuah

Comments on "Household credit, growth and inequality in Malaysia: does the type of credit matter?" , pp 61-64

Yongheng Deng

Corporate leverage in emerging Asia , pp 65-94

Vidhan Goyal and Frank Packer

Comments on "Corporate leverage in emerging Asia" , pp 95-99

Dragon Yongjun Tang

Foreign banks and credit conditions in EMEs , pp 101-123

Torsten Ehlers and Patrick McGuire

Comments on "Foreign banks and credit conditions in EMEs" , pp 125-128

Glenn Hoggarth

Household credit in Asia-Pacific , pp 129-144

Moritz Schularick and Ilhyock Shim

Comments on "Household credit in Asia-Pacific" , pp 145-151

Woon Gyu Choi

Rich debt, poor debt: assessing household indebtedness and debt repayment capacity , pp 153-168

Muhamad Shukri Abdul Rani, Siti Hanifah Borhan Nordin, Chin Ching Lau, Sheng Ling Lim and Zhen Shing Siow

Comments on "Rich debt, poor debt: assessing household indebtedness and debt repayment capacity" , pp 169-173

Sock-Yong Phang

Balancing policy objectives in Asia: leverage vs long-term economic growth , pp 175-176

Deepak Mohanty

Credit build-up and financial stability issues: do we know enough to calibrate appropriate intervention? , pp 177-182

Johnny Noe E Ravalo

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