01772cas a2200241 a 4500 AALejournalIMF006397 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451982657 1018-5941 BD-DhAAL BD-DhAAL Kannan, Prakash. Credit Conditions and Recoveries from Recessions Associated with Financial Crises / Prakash Kannan. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Recoveries from recessions associated with a financial crisis tend to be sluggish. In this paper, we present evidence that stressed credit conditions are an important factor constraining the pace of recovery. In particular, using industry-level data, we find that industries relying more on external finance grow more slowly than other industries during recoveries from recessions associated with financial crises. Additional tests, based on establishment size, on alternative definitions of financial crises, and on corporate-government interest rate spreads, support the findings. Moreover, for subsets of industries where financial frictions are more severe, we find much stronger differential growth effects. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2010/083 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/083/001.2010.issue-083-en.xml IMF e-Library