Business Cycle in Czechoslovakia Under Central Planning : Were Credit Shocks Causing it? /

This paper examines credit origins of the business cycle in the former Czechoslovakia. Industrial production is found to be cointegrated with various measures of bank credit during 1976-90 and it is shown that noninvestment credits are Granger-causing industrial production and that a feedback relati...

Πλήρης περιγραφή

Λεπτομέρειες βιβλιογραφικής εγγραφής
Κύριος συγγραφέας: Bulir, Ales
Μορφή: Επιστημονικό περιοδικό
Γλώσσα:English
Έκδοση: Washington, D.C. : International Monetary Fund, 1996.
Σειρά:IMF Working Papers; Working Paper ; No. 1996/129
Διαθέσιμο Online:Full text available on IMF
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245 1 0 |a Business Cycle in Czechoslovakia Under Central Planning :   |b Were Credit Shocks Causing it? /  |c Ales Bulir. 
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300 |a 1 online resource (28 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper examines credit origins of the business cycle in the former Czechoslovakia. Industrial production is found to be cointegrated with various measures of bank credit during 1976-90 and it is shown that noninvestment credits are Granger-causing industrial production and that a feedback relation exists between investment credits and industrial production. Although the potency of credit supply shocks to industrial production has been changing, production decline (growth) seems to follow credit tightening (loosening). However, the paper confirms that credit shocks were only a minor part of the output decline in 1989-90. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1996/129 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1996/129/001.1996.issue-129-en.xml  |z IMF e-Library