@techreport{NBERw9737,
 title = "Credit Market Imperfections in Middle Income Countries",
 author = "Aaron Tornell and Frank Westermann",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "9737",
 year = "2003",
 month = "June",
 URL = "http://www.nber.org/papers/w9737",
 abstract = {In this paper we document three credit market imperfections prevalent in middle income countries that can help explain the boom-bust cycles as well as other macroeconomic patterns observed at higher frequencies across these countries. These imperfections are: the existence of financing constraints that affect mainly the nontradables sector, currency mismatch and systemic bailout guarantees.},
}