Author : Mr.Ales Bulir
Publisher : International Monetary Fund
ISBN 13 : 1451934750
Total Pages : 28 pages
Book Rating : 4.4/5 (519 download)
Book Synopsis Business Cycle in Czechoslovakia Under Central Planning by : Mr.Ales Bulir
Download or read book Business Cycle in Czechoslovakia Under Central Planning written by Mr.Ales Bulir and published by International Monetary Fund. This book was released on 1996-11-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.