| Author: | Calvo, G. Kumar, M. |
| Title: | Money demand, bank credit, and economic performance in former socialist economies |
| Journal: | Staff Papers
1994 : JUN, VOL. 41:2, p. 314-349 |
| Index terms: | MONEY DEMAND BANKING ECONOMIC PERFORMANCE |
| Language: | eng |
| Abstract: | This paper examines factors determining the allocation of bank credit to the enterprise sector and the implications of this allocation for aggregate supply and macroeconomic performance in the former socialist economies. It first develops a model to explain how changes in demand for money by the household sector directly influence the availability of working capital, which in turn determines aggregate output and employment. It then examines factors influencing the allocation of bank credit between enterprises and other borrowers, in particular the government. |
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