Long-Term Trends in Intra-Financial Sector Lending in the United States (1950-2012)

被引：4

作者：

Montecino, Juan Antonio ^{[1
]}

Epstein, Gerald ^{[2
,3
]}

Levina, Iren ^{[4
]}

机构：

[1] Univ Massachusetts, Dept Econ, Amherst, MA 01003 USA

[2] Univ Massachusetts, Dept Econ, Amherst, MA 01002 USA

[3] Univ Massachusetts, Polit Econ Res Inst, Amherst, MA 01002 USA

[4] Univ Kingston, Dept Econ, London KT1 2EE, England

来源：

EASTERN ECONOMIC JOURNAL | 2016年 / 42卷 / 04期

关键词：

finance; intra-financial lending; financial crisis;

D O I：

10.1057/eej.2015.1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the evolution of intra-financial sector lending in the United States, 1950-2012, constructing estimates from the Federal Reserve's Flow of Funds Accounts. Lending between financial institutions has grown nearly five-fold since the 1950s and currently accounts for roughly half of all financial sector lending. In the run up to the financial crisis of 2007-2008, the growth of intra-financial lending was concentrated in assets highly implicated in the genesis of the crisis, suggesting that this growth may have contributed to the crisis. This growth in intra-financial lending also raises questions about the contribution of the financial sector to the real economy.

引用

页码：611 / 629

页数：19