Indicators based on the ratio of credit to GDP have been found to be highly useful predictors of banking crises. We study the difference in this ratio as an early warning indicator. We test a large number of different versions of the differenced credit-to-GDP ratio with data on Euro area...

This paper studies the leadlag pattern in the interaction between credit and growth cycles of India at three levels i.e. at the aggregate level for annual GDP growth, at the sectoral level across agriculture, industry and services, and also across major industries. The study focuses on three...