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The Credit Policy And Its Impact On The Romanian Economy

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  • ELENA PELINESCU

    ()
    (Institute for Economic Forecasting, Romania)

  • PETRE CARAIANI

    ()
    (Institute for Economic Forecasting, Romania)

Abstract

In this paper we discuss the credit policy and how it affected the macroeconomic dynamics in Romania. We estimate a regression on quarterly data in which economic growth is the dependant variable and foreign direct investments and domestic credit are the explanatory variable. We found significant and strong positive coefficients for the effects of credits and foreign direct investments on economic growth. We also found some degree of inertia in GDP.

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Bibliographic Info

Article provided by ROMANIAN ACADEMY – INSTITUTE FOR ECONOMIC FORECASTING & "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences in its journal New Trends in Modelling and Economic Forecast (MEF 2011).

Volume (Year): 1 (2012)
Issue (Month): 1 (January)
Pages: 54-68

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Handle: RePEc:ntu:ntumef:vol1-iss1-12-054

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Related research

Keywords: credit policy; business cycles; linear regression; FDI; inertia;

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References

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  1. Robert J. Barro, 1976. "Unanticipated Money Growth and Unemployment in the United States," Working Papers 234, Queen's University, Department of Economics.
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  7. King, Robert G & Plosser, Charles I, 1984. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, American Economic Association, vol. 74(3), pages 363-80, June.
  8. Evžen Koèenda & Jan Hanousek & Peter Ondko, 2007. "The Banking Sector in New EU Member Countries: A Sectoral Financial Flows Analysis (in English)," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 57(5-6), pages 200-224, August.
  9. Abel, Istvan & Siklos, Pierre L., 2004. "Secrets to the successful Hungarian bank privatization: the benefits of foreign ownership through strategic partnerships," Economic Systems, Elsevier, vol. 28(2), pages 111-123, June.
  10. Agenor, Pierre-Richard & McDermott, C John & Prasad, Eswar S, 2000. "Macroeconomic Fluctuations in Developing Countries: Some Stylized Facts," World Bank Economic Review, World Bank Group, vol. 14(2), pages 251-85, May.
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