search query: @indexterm Capital growth / total: 43
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| Author: | Buffie, E. F. |
| Title: | Credit rationing and capital accumulation |
| Journal: | Economica
1991 : AUG, VOL. 58:231, p. 229-316 |
| Index terms: | CREDIT RATIONING CAPITAL GROWTH FINANCIAL POLICY LOANS DYNAMIC MODELS |
| Language: | eng |
| Abstract: | Using a dynamic partial equilibrium analysis, it is examined how financial policies affect capital accumulation when bank loans are subsidized and rationed. It is found that the underlying specification of intertemporal behaviour is critical: loan policy often has qualitatively different effects on capital accumulation in overlapping-generations and infinite-horizon models. It is also shown that in the infinite-horizon case the results are extremely sensitive to the timing of private sector expectations. |
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