Systemic crises and growth
Romain Ranciere
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Systemic crises and growth
Published
2005
Publisher
National Bureau of Economic Research
Pages
54
Description
"In this paper, we document the fact that countries that have experienced occasional financial crises have, on average, grown faster than countries with stable financial conditions. We measure the incidence of crisis with the skewness of credit growth, and find that it has a robust negative effect on GDP growth. This link coexists with the negative link between variance and growth typically found in the literature. To explain the link between crises and growth we present a model where weak institutions lead to severe financial constraints and low growth. Financial liberalization policies that facilitate risk-taking increase leverage and investment. This leads to higher growth, but also to a greater incidence of crises. Conditions are established under which the costs of crises are outweighed by the benefits of higher growth"--National Bureau of Economic Research web site.
Frequently Asked Questions
How many pages are in Systemic crises and growth?
This edition of Systemic crises and growth has approximately 54 pages. Please note, this is an estimate and the exact page count can vary between hardcover, paperback, and e-book versions.
How long does it take to read Systemic crises and growth?
For most readers, Systemic crises and growth typically takes between 1h 8m and 45m to complete. This is based on the book's length of approximately 13,500 words and common reading speeds.
Here's a detailed breakdown: • Continuous reading at 250 WPM: approximately 54m of focused reading • Casual reading (30 minutes/day): you could finish in roughly 2 days • Estimated word count: 13,500 words
Your individual reading time will vary based on your personal reading pace, the amount of daily reading time, and your familiarity with the subject matter.
What is the word count of Systemic crises and growth?
The estimated word count for Systemic crises and growth is approximately 13,500 words. This figure is calculated using industry-standard methods that consider genre-specific word density patterns, typical formatting and layout characteristics, and standard words-per-page ratios for published books.
This is an approximation — actual word count may vary based on font size, formatting, edition, and the presence of illustrations or charts.
Who is the author of Systemic crises and growth?
Systemic crises and growth was written by Romain Ranciere.
When was Systemic crises and growth published?
The publication date for this specific edition is 2005. The original work may have been published on a different date.