Credit Crunch! Credit Crunch! Credit Crunch?

Abstract

Utilizing macro and micro data, this issue verifies the validity of the claim that there has been a credit crunch since the onset of Asian financial crisis. Results do not lend credence to the hypothesis. Instead, the observed slowdown in the credit market is a reflection of the economic downturn.Asian financial crisis, financial market, money and banking, credit program, credit market, credit access