01917cas a2200265 a 4500 AALejournalIMF018885 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484385654 1018-5941 BD-DhAAL BD-DhAAL Ayyagari, Meghana. The Micro Impact of Macroprudential Policies : Firm-Level Evidence / Meghana Ayyagari, Thorsten Beck, Maria Martinez Peria. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (65 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 Combining balance sheet data on 900,000 firms from 48 countries with information on the adoption of macroprudential policies during 2003-2011, we find that these policies are associated with lower credit growth. These effects are especially significant for micro, small and medium enterprises (MSMEs) and young firms that, according to the literature, are more financially constrained and bank dependent. Among MSMEs and young firms, those with weaker balance sheets exhibit lower credit growth in conjunction with the adoption of macroprudential policies, suggesting that these policies can enhance financial stability. Finally, our results show that macroprudential policies have real effects, as they are associated with lower investment and sales growth. Mode of access: Internet Beck, Thorsten. Martinez Peria, Maria. IMF Working Papers; Working Paper ; No. 2018/267 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/267/001.2018.issue-267-en.xml IMF e-Library