of the absolute change in credit-to-GDP ratio as an early warning system indicator of systemic banking crises. The …

characterized by relatively high credit growth rates and, consequently, with an increase of the credit-to-GDP ratio. Some authors … reaches about 100% of GDP. Taking into account relatively low level of credit-to-GDP ratio, we may assume that there is still …

characterized by relatively high credit growth rates and, consequently, with an increase of the credit-to-GDP ratio. Some authors … reaches about 100% of GDP. Taking into account relatively low level of credit-to-GDP ratio, we may assume that there is still …

private Credit-to-GDP ratio, which allow us to estimate the long-term sustainable level of credit deepening in a country and …

-cycle decomposition of the credit-to-GDP ratio, using annual observations from 1861 to 2011. In order to draw conclusions based on solid … cycles. Third, taking into account the deviation of the credit-to-GDP ratio from its trend, an acceleration of credit …, there were also periods - such as the early 1970s - in which the growth of the credit-to-GDP ratio was not followed by a …

trend-cycle decomposition of the credit-to-GDP ratio, using annual observations from 1861 to 2011. In order to draw … traditional business cycles. Third, taking into account the deviation of the credit-to-GDP ratio from its trend, an acceleration …-to-GDP gap. However, there were also periods -such as the early 1970s- in which the growth of the credit-to-GDP ratio was not …