A nascent literature explores the measurement of financial fragility. This paper considers evidence for rising financial fragility during the 1984–2007 Great Moderation in the U.S. The literature suggests that macroeconomic stability combined with strong growth of credit to asset markets, in...

<Para ID="Par1">In contemporary research, it is common to measure growth-enhancing financial development by the volume of credit as a ratio of the gross domestic product (GDP), an application of Schumpeter’s theory of credit and development. Recently, researchers have been surprised to find a negative...</para>

In this paper we present a new data set on bank credit in four categories: home mortgages, consumer credit, bank loans to non-bank financials, and loans to non-financial business, for 74 economies over 1990–2013. We offer a full description of sources and methods of data collection and...