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

Were Credit Shocks Causing it?

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 relation exists between investment credits and... READ MORE...

Publication date: November 1996
ISBN 9781451934755
$15.00

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