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Amount of credit and its variability as labor productivity determinants: Evidence from Hungary and Poland

Author

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  • Michał Brzozowski

    (Faculty of Economic Sciences, University of Warsaw, Długa 44/50, 00-241, Warsaw, Poland)

Abstract

Using annual sectoral data for Hungary and Poland covering the period of 2005–2016, this paper assesses the impact of credit market characteristics on labor productivity in manufacturing. Apart from the amount of loans extended to non-financial corporations, which has been extensively studied in the literature, it focuses on credit market stability and tightness. The main results are that the volatility of credit originating from the supply side of the market has a negative influence on labor productivity, while credit market tightness is insignificant. There is no robust evidence that the stock of credit is a critical productivity determinant.

Suggested Citation

  • Michał Brzozowski, 2022. "Amount of credit and its variability as labor productivity determinants: Evidence from Hungary and Poland," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 72(2), pages 211-230, June.
    • Handle: RePEc:aka:aoecon:v:72:y:2022:i:2:p:211-230
    DOI: 10.1556/032.2022.00012
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    Keywords

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    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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