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Credit crunch or what? Australian banks during the 1986–93 credit cycle
There is ongoing debate about how the banking sector's financial condition affects the supply of credit to business and, ultimately, general macroeconomic conditions. The United States does not generate sufficient data to provide satisfactory answers to these questions, given the low frequency of credit cycles. However, the experiences of other developed countries may provide additional insight. This article investigates the 1986-93 credit cycle in Australia. A comparison of key differences and similarities between the U.S. and Australian banking systems allows a useful analysis of the ...