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Credit Market as a “Mirror” of the Economic System: A Disequilibrium Approach

Author

Listed:
  • Dãnãnãu Cristian-Florin

    (The Bucharest Academy of Economic Studies)

  • Alexandru Ciprian-Antoniade

    (Ecological University of Bucharest, Economic Sciences Faculty)

Abstract

We investigate through an econometric approach the credit market and the factors that interact with it. Our investigation tries to put into discussion the main macroeconomic determinants of credit market in Romania. Our approach is chiefly centered around essential macroeconomic vari-ables related to industrial output, interest in banking industry, as well as to stock market aggregate indicators. This paper’s results show that disequilibrium models can be used to properly model and describe, in the medium and short-run, the behavior of the credit market as a whole, by taking necessary precautions.

Suggested Citation

  • Dãnãnãu Cristian-Florin & Alexandru Ciprian-Antoniade, 2012. "Credit Market as a “Mirror” of the Economic System: A Disequilibrium Approach," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(3), pages 1-64, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:3:p:64
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    More about this item

    Keywords

    disequilibrium models; co-integration; stationarity and non-stationarity; credit market.;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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