TY  - BOOK
AU  - Kumar,Manmohan S.
AU  - Calvo,Guillermo
AU  - Kumar,Manmohan S.
TI  - Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies
T2  - IMF Working Papers; Working Paper
SN  - 1451841833 :
SN  - 1018-5941
PY  - 1994///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Bank Credit
KW  - imf
KW  - Bank Loans
KW  - Debt
KW  - Interest
KW  - Loans
KW  - Hungary
KW  - Poland
N2  - This paper examines factors determining the allocation of bank credit to the enterprise sector, and the implications of this allocation for aggregate supply and macro-economic 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. Finally, the paper discusses relative merits of bank finance and equity capital in financing medium- and long-term investment, and constraints on the development of efficient equity markets
UR  - http://elibrary.imf.org/view/IMF001/04729-9781451841831/04729-9781451841831/04729-9781451841831.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451841831
ER  -